Minimum balance to open the account - You must deposit $100.00 to open this account.
Fees: A service charge fee of $5.00 will be charged each monthly statement cycle. The following activity fees will be imposed each monthly statement cycle:
You will earn a credit of $.10 for each $100.00 of the average available balance in excess of $499.00 during the statement cycle. This earnings credit will be applied to reduce the service charge and activity fees.
Rate Information - Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. 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 balance to avoid imposition of fees - A service charge fee of $10.00 will be imposed every statement cycle if the balance in the account falls below $1,000.00 any day of the cycle.
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $1,000.00 in the account each day to obtain the disclosed annual percentage yield.
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 non-cash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
Fees: An excess activity fee of $1.00 will be charged for each check or debit in excess of six during a statement cycle.