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 our 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.
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 $50.00 to open this account.
To Avoid Imposition Of Fees: A maintenance fee of $1.00 will be assessed per statement if the average balance falls below $100.00 during the statement cycle.
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).
TRANSACTION LIMITATIONS: You may make six (6) transfers from your account each statement cycle, if by pre-authorized, automatic or telephone transfer. Three (3) of these transfers may be made by draft or similar order to third parties.
ACCOUNT FEES: Refer to Schedule of Fees.
ELIGIBLITY: The service charge is waived for depositors age 18 and under.
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