RATE INFORMATION:
Single Variable Rate:  The interest rate on your account is __________% with an annual percentage yield of __________%.  Your interest rate and annual percentage yield may change.

• Determination of Rate:  At out discretion, we may change the interest rate on your account. 


• Frequency of Rate Changes.  We may change the interest rate on your account at any time.

COMPOUNDING FREQUENCY:  Interest will be compounded daily.

CREDITING FREQUENCY: Interest will be credited to your account every month on the statement cycle date.
 
EFFECT OF CLOSING AN ACCOUNT:  If you close your account before interest is credited, you will receive the accrued interest.

MINIMUM BALANCE REQUIREMENTS:
To Open The Account:  You must deposit $750.00 to open this account.

To Avoid Imposition Of Fees:  You must maintain a minimum daily balance of $750.00 or an average daily balance of $2,500.00 to avoid a $5.00 monthly maintenance charge.

BALANCE COMPUTATION METHOD:  We use the daily balance method to calculate interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

ACCRUAL OF INTEREST ON NONCASH DEPOSITS:  Interest begins to accrue on the business day you deposit noncash items (for example, checks).

ACCOUNT FEES:  A $.15 fee will be assessed for all check/debits received by the bank during a statement cycle if the balance falls below $750.00 or the average balance falls below $2,500.00.

>> Back