Every business is unique… that’s why we take a personal approach to Business Banking. At Kearny Federal Savings, we don’t pre-package programs, rather we let you choose the services you want. Our experienced customer service representatives provide a level of expertise that can be valuable in helping you access services, manage resources and obtain necessary funds.

No matter the size or complexity of your business, we have the services to help you grow.
 

BUSINESS DEPOSIT PRODUCTS/SERVICES

Account Type Interest Rates Minimum DEPOSIT to Open ACCOUNT Minimum Balance to Avoid Fee or to Obtain Interest
Business Checking  $100 $100
Business Statement Savings
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rate
$100 $100
Business Money Market $2,500 $2,500
30 Day CD $25,000 $25,000
91 Day CD $1000 $1000
4 Month CD $1000 $1000
6 Month CD $1000 $1000
1 Year CD $500 $500
17 Month Step-Up CD $1000 $1000
2 Year CD $500 $500
29 Month Step-Up CD $1000 $1000
3 Year CD $500 $500
5 Year CD $500 $500

A Kearny Federal Savings MasterCard Debit BusinessCard is available for Business Checking and Business Statement Savings Accounts, only if the Business Checking account is the primary account.

  • Business Checking: your business checking account can be established with an initial deposit of $100. A Kearny Federal MasterCard Debit BusinessCard is available with your business checking account.

  • Business Statement Savings: manage cash more efficiently while earning interest on surplus funds.

  • CDs: earn higher interest on excess cash with certificates of deposit featuring terms as short as 30 days up to five years.

  • Rent Security Accounts: convenient escrow accounts for property owners, management agents and landlords. Kearny Federal offers special rent security accounts so you can maintain accurate record keeping of all your investment or managed properties. Interest is credited at our current regular passbook savings rate.

  • Trust Accounts: Kearny Federal Savings Bank is a State approved depository institution for licensed real estate brokers’ trust and/or escrow accounts and IOLTA attorney trust accounts.

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BUSINESS LOAN PRODUCTS

Loan Program Maximum Loan Amount
Commercial Real Estate Loans
 5 Years - 15 Years Payment Schedule		 $5,000,000.00 
Commercial Line of Credit
Term of 1 Year (renewable) 		$5,000,000.00 
Construction Loans $5,000,000.00 

  • Commercial Real Estate Loans: fixed or floating interest rate loans for the purchase or improvement of commercial real estate buildings, including mixed-used retail and residential, apartment complexes, commercial office buildings, and warehouse/industrial properties. The loan must be secured by real estate.

  • Commercial Lines of Credit: a business line of credit with a floating interest rate, which can be used for working capital, expansion, equipment, or other business purposes. The loan must be secured by real estate or other acceptable collateral.

  • Construction Loans: construction loans are available for residential or commercial building projects involving new construction, expansion of an existing building, or remodeling. Loan terms of up to two years for construction, with permanent financing available for the completed building.


    Please contact the Commercial Lending Department at 1(800) 936-7394 for current interest rates for all of our loan products. Loan payments can be deducted from your Kearny Federal Savings checking account.

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BUSINESS RETIREMENT PRODUCTS

Account Type Current Rate Minimum Deposit 
1 Year Variable Rate $100.00
1 Year Fixed Rate $500.00
2 Year Fixed Rate $500.00
3 Year Fixed Rate $500.00
5 Year Fixed Rate $500.00

  • Simplified Employee Pension Plan (SEP): a SEP is an effective and simple way for business owners and self-employed individuals to build their retirement savings. SEPs are easy to set up and maintain with little paperwork or administrative responsibility for your company. Make contributions when they are affordable and skip years when they are not affordable.

  • Savings Incentive Match Plan for Employees (SIMPLE): a SIMPLE IRA is a cost-effective way for employers with fewer than 100 employees to maintain a retirement plan. It encourages employees to fund their own retirement accounts through salary deferral contributions. A limited level of employer contributions is also required.

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Other Business Services/Information

  • ATM Card: use your ATM card at any of our convenient locations or at any Star, Plus, Cirrus, Pulse or NYCE machine operated by other institutions. This card allows you to have access to your accounts after hours. At Kearny Federal Savings ATMs you can obtain inquiries, make deposits or withdrawals, and transfer money to your linked accounts.

  • MasterCard Debit BusinessCard: use your MasterCard Debit BusinessCard to make everyday purchases wherever you see the MasterCard® logo – millions of locations across the globe. Use it as your ATM card at any of our conveniently located ATMs for withdrawals, transfers, balance inquiries and deposits.

  • FASTbanking: as a KFS customer, you can obtain information about your checking, savings or loan accounts 24 hours a day, 7 days a week. Access your account balances, specific account information such as checks cleared, maturity dates, interest rates, a fax of your last statement, tax information, verification of deposits and withdrawals and transfers between your checking and statement savings account. To be connected to our automated banking system the phone number is (201) 447-3600 with the access code 532 followed by the # key.

  • Internet Banking: convenient banking through your computer! Access account balances, transfer funds between accounts, check interest rates and much more.

  • Direct Deposit/Electronic Funds Transfers/ACH: reduce collection and disbursement costs with electronic payments.

  • Merchant Services: we can provide your business with credit card processing services which will allow you to accept MasterCard® and Visa® for goods or services rendered at your location. Gross proceeds of your credit card transactions will be deposited electronically into your account.

  • Cash Management: Corporate accounting, payments, collections… all in a convenient electronic form.

  • Wire Transfers: you can have money wired in or out of your account to or from anywhere in the United States.

  • Night Deposit Box: we understand that it is difficult for a small business owner to take time out of their day to drop by the bank and make a daily deposit. With our night deposit program, you may deposit funds to your account at any time, day or night. This service is available at select locations.

  • Lock Box Service: direct your customers to send payments to a selected post office address. We pick up the mail, process the remittances according to your instructions, make deposits and provide you with reports of deposit information.

  • Safe Deposit Boxes: available in a variety of sizes, these strong boxes accessible in select branch locations can be used to store important personal, business, and financial papers and documents as well as other valuable items.

  • Federal Tax Payments: Kearny Federal is a treasury tax and loan depositary and can process your coupon tax payment.

  • Medallion Signature Guarantees/Notary Public Services: there are qualified personnel in each of our offices to guarantee or notarize your documents. Signature guarantees are mostly used in the transfer of securities. The maximum value of any security upon which we can guarantee a signature is $250,000.

  • Insurance Products: we offer term life insurance products through our wholly owned subsidiary KFS Financial Services, Inc. Quotes and applications can be performed over the phone. Contact a licensed representative toll free at 1(800) 273-3406.

All rates and terms quoted are subject to change without notice.
Your Kearny Federal Savings business development officer will happily discuss a banking program customized to meet the needs of your business. Please contact our Commercial Lending Hotline at 1-800-936-7394 for further details.

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