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Money Market Fund Savings Account Image

Money Market Fund Savings Account

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 day. Interest will be credited to your account every quarter.

Minimum Balance to Open The Account - You must deposit $2,500.00 to open this account.

Minimum Balance to Avoid Imposition of Fees - A service charge fee of $15.00 will be imposed every monthly statement cycle if the balance in the account falls below $2,500.00 any day of the cycle.

Minimum Balance to Obtain the Annual Percentage Yield Disclosed - You must maintain a minimum balance of $2,500.00 in the account each day to obtain the disclosed annual percentage yield. If the daily balance falls below $2,500.00, you will be paid at the regular savings rate.

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 no later than the business day we receive credit for the deposit of noncash items (for example, checks).

Transaction Limitations - Transfers from a Money Market Fund Savings Account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer or by check, draft, or similar order to third parties are limited to six per statement cycle.

Fees - An excessive withdrawal fee of $1.00 will be charged for each withdrawal in excess of six during a three month period or statement cycle.

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