VARIABLE RATE ACCOUNT: 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.
TIERING LEVELS AND THEIR APPLICATINO RATES: The interest rate to be paid on your account will
depend on the daily balance in your account. Refer to Rates to determine what interest rate will be paid depending on the daily balance in you account. The separate 'tiers' that have varying interest rates that apply are:
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If the daily balance in your account is less than $50.00, no interest will be paid on the entire balance in your account.
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If the daily balance in your account is $50.00 or more but less than $25,000.00, the entire balance in your account will earn the appropriate interest rate.
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If the daily balance in your account is $25,000.00 or more, the entire balance in your account will earn the appropriate interest rate.
COMPOUNDING AND CREDITING: Interest will be compounded on a daily basis and credited to your account quarterly.
MINIMUM BALANCE REQUIREMENTS:
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TO OPEN THE ACCOUNT: You must deposit $50.00 to open the account.
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TO AVOID THE IMPOSITION OF FEES: A minimum balance fee of $2.25 will be imposed every month if the balance falls below $200.00 any day of the monthly statement cycle.
OTHER FEES:
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LOW BALANCE/INACTIVE FEE: A $2.25 monthly fee is assessed after two years of inactivity and balance is less that $200.00
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EARLY CLOSING FEE: A $20.00 fee is assessed on an account open for less than six months.
