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Rate Information - Your interest
rate and annual percentage yield may change. |
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Frequency of rate changes - We
may change the interest rate on your account at any time. |
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Determination of rate - At our
discretion, we may change the interest rate on your account. |
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Compounding and crediting frequency
- Interest will be compounded every month. Interest will be credited
to your account every month. |
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Effect of closing an account -
If you close your account before interest is credited, you will not
receive the accrued interest. |
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Minimum balance to open the account
- You must deposit $1,500.00 to open this account. |
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Minimum balance to avoid imposition of fees
- A service charge fee of $17.00 will be imposed every statement
cycle if the balance in the account falls below $1,500.00 any day of
the cycle.
As an added convenience, all of our checking accounts come with
monthly imaged statements. |
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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. |
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Accrual of interest on noncash deposits
- Interest begins to accrue on the business day you deposit noncash
items (for example, checks). |
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Fees - A per debit fee of $.25
will be charged for each debit transaction (withdrawal, check paid,
automatic transfer or payment out of this account) in excess of 50
during a statement cycle. |
