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- Rate
Information: Your interest rate and annual percentage yield
may change. Ask a Banker for current interest rates and annual
percentage yields.
- Frequency of rate changes/Determination
of rate: At our discretion, we may change the interest
rate on your account at any time.
- Compounding and crediting frequency:
Interest will not be compounded. 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
not receive the accrued interest.
- Minimum Deposit to open the account:
You must deposit $200.00 to open this account.
- Minimum Balance to avoid imposition
of fees: A quarterly maintenance fee of $6.00 will be imposed
every quarter if the balance in the account falls below $200.00
on any day of the quarter or if an average quarterly balance of
$1,000.00 is not maintained.
- Minimum Balance to obtain the annual
percentage yield disclosed: No minimum balance is required.
- Daily Balance computation method:
We use the daily balance method to calculate the 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 we receive your
deposit of noncash items (for example, checks).
- Transaction limitations: Transfers
from a Statement Savings Account to another account or to third
parties by preauthorized, automatic, or telephone transfer are
limited to six per statement cycle with no transfers by check,
draft, debit card or similar third parties.
- Fees: A per item fee of $1.00
will be charged for each withdrawal in excess of six per month.
A per transaction fee of $15.00 will be charged for each excessive
preauthorized, automatic, and/or telephone transfer in excess
of 6 during a month.
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