Lafayette CSR'sBusiness Savings

The Business Savings Account is your business' ticket to increased savings and a great place to keep excess funds until you need them.

Get an interest bearing account with an easy-to-use record keeping book for deposits and withdrawals.


  • Interest bearing
  • Low minimum balance
  • Free Online Banking
  • Free e-Statements
  • Free Citizens-On-Call Telephone Banking

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How to Open a Basic Business Savings Account

To open a Citizens business savings account today, bring the documents listed below to any of our offices.

1. Your business Employer Identification Number (EIN) or tax ID number (sole proprietors can use the owner's Social Security number).

2. Articles of Incorporation, Articles of Organization, or a charter or a similar legal document that indicates when your company was formed (not required for sole proprietors).

3. A government issued photo ID and Social Security number for you and anyone else authorized to sign checks or make transactions on behalf of your organization.

Individual Retirement Account (IRA)

We realize that saving for the future can be hard work, and knowing how to invest assets most effectively can be confusing.

Citizens Bank Minnesota offers many FDIC-insured IRA options to choose from, and knowledgeable client service representatives to help you decide which is the best choice for your business.


  • Competitive rates
  • Flexible terms

Types of IRAs

We offer a variety of IRA options to suit your unique needs:

  • A Traditional IRA is a special tax-deferred* savings plan authorized by the federal government to encourage you to accumulate money for retirement.
  • A Roth IRA is an individual retirement account to which participants can make annual nondeductible contributions. Unlike a Traditional IRA in which your earnings are tax-deferred, Roth IRA earnings can be tax-free.*
  • A Simplified Employee Pension (SEP) IRA is a written plan that allows you to make contributions toward your own retirement account and those of your eligible employees.

*Please consult your tax advisor.


Ultimate Investment Savings

There are good interest rates out there... but there's only one ULTIMATE. This CD is hard to beat -- combining the flexibility of a savings account with the high market rates of a CD.

Get high interest rates and the freedom to deposit more funds anytime. You can even take money out during the term if you need to. Outstanding rates without losing access to your money -- no wonder we call it the Ultimate!


  • Variable tiered interest rate
  • Interest compounded and paid quarterly
  • No maturity date
  • Unlimited deposits
  • No monthly processing fee
  • One no-fee withdrawal per quarter*
  • Interest can be automatically transferred to another Citizens account
  • $1,000 minimum to open, $1000 minimum withdrawal, $100 minimum additional deposits.

More Information

No interest will be paid any day on the daily balance below $1000.00. Interest is paid on the daily collected balance and credited to the account quarterly.

*One no-fee withdrawal may be made within the first 5 business days of each calendar quarter. (Jan., Apr., Jul., Oct.). Additional withdrawals will be assessed a $50.00 processing fee plus the accrued interest.
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Investment & Insurance products: Are Not Insured by the FDIC or any other federal government agency • Are not deposits of or guaranteed by a Bank or any Bank Affiliate • May Lose Value