Tiered variable APY
Earn interest within published balance bands. Where offered, signed-in clients may see personalized tiers; new accounts receive the rate sheet effective on the business day of funding.
Sky Savings
Your insured deposit account for cash that belongs outside of checking but still within reach: emergency reserves, sweeps from operating balances, and staging pools before you deploy capital. Variable APYs, tiers, and limits are disclosed in your Truth in Savings package at account opening.
- FDIC insurance on qualifying deposits within applicable limits
- Tiered variable rates with notices when APYs change
- Same Sky digital banking experience as your checking and cards
Tiered yields
Published APY bands so you see how balance tiers affect earnings.
FDIC insurance
Qualifying deposits insured within statutory limits.
Transfers & sweeps
Move funds between eligible Sky accounts on your schedule.
Alerts & statements
Threshold and activity alerts plus paper or eStatements where offered.
Key features and benefits
Practical advantages built into Sky Savings for disciplined liquidity management. Availability may vary based on your profile and account agreements.
Funding & sweeps
Schedule transfers from Sky checking or external funding sources subject to limits and cutoffs shown before you confirm.
Controls & visibility
Balance thresholds, large credits or debits, and statement availability help treasury-minded clients stay ahead of surprises.
FDIC context
Insured deposits are covered up to applicable limits while held in Sky Savings until you withdraw or move funds according to your agreement.
What clients use Sky Savings for
Common ways households and closely held businesses allocate balances to Sky Savings with clear intent.
- Emergency and opportunity reserves separated from everyday spending
- Staging cash for taxes, tuition, capital calls, or acquisitions before moving to longer-term instruments
- Treasury hygiene: documented sweeps between checking and savings aligned to liquidity policies
- Short horizons where principal preservation and insured deposits matter more than market volatility over the next one to two years
Fees and minimum opening deposit
Figures below summarize Sky Savings as presented alongside other savings products on our overview page. Your Schedule of Fees and Truth in Savings disclosure at opening remain the authority for your account.
| Topic | Sky Savings |
|---|---|
| Minimum opening deposit | $0. Funding method and timing are confirmed when you apply. |
| Monthly maintenance fee | $0 when you maintain a Sky checking relationship or an end-of-day balance of $500 or more each statement cycle; otherwise $5. Other fees may apply as listed in your Schedule of Fees. |
| Withdrawal limits | Savings accounts may limit certain withdrawals or transfers per statement cycle under regulation and your disclosure; excess activity fees may apply. |
Fees and waivers can change with notice. Ask your banker for the fee schedule version that matches your state and account type.
Digital banking with Sky Savings
Sky Savings appears alongside your other Sky accounts in online and mobile banking so you see liquidity in one place.
- Balances, transactions, and downloadable history where enabled.
- Internal transfers and scheduled moves between eligible Sky deposit accounts.
- Alerts for balances, credits, debits, and new statements.
- Secure sign-in, device controls, and escalation to Private Client Service from authenticated help paths.
Feature availability depends on enrollment and your Online Banking Agreement. Liability and authentication terms are described there.
Rates and APY
Sky Savings pays a tiered variable annual percentage yield on qualifying balances. Certificate and money market products are separate; compare options on the savings overview when you need a different structure.
APYs are variable after opening unless your disclosure specifies otherwise. The rate in effect on the business day you fund governs initial interest accrual; subsequent changes follow the notice rules in your agreement.
Existing clients may view personalized tiers after signing in when the bank offers them.
Frequently asked questions
How do I open Sky Savings?
Start with the online savings application or call Private Client Service at +1 317 552 0423. Your banker confirms documentation, tiers, and funding instructions before you sign.
What is the minimum opening deposit?
Sky Savings can be opened with $0 minimum posted on our fee summary; you may still choose an initial funding amount that fits your plan. Cutoffs depend on transfer method.
How is the monthly maintenance fee waived?
The fee is $0 when you maintain a Sky checking relationship or an end-of-day balance of at least $500 each statement cycle; otherwise $5 may apply. See your Schedule of Fees for the wording that governs your account.
How does Sky Savings differ from money market or CDs?
Sky Savings prioritizes flexibility for reserves. Money market and CD products have different transaction privileges, tiers, or fixed terms. Review all savings & CDs or ask Private Client Service which product matches each bucket of cash.
Do withdrawal limits apply?
Yes. Federal rules and your disclosure may limit certain withdrawals or transfers per statement cycle. Excess activity can incur fees or require account changes as described in your agreement.
Ready to add Sky Savings?
Apply online or work with Private Client Service to align Sky Savings with your checking relationship and disclosure package.