PERSONAL SERVICES
PASSBOOK SAVINGS ACCOUNTS
Recommended
for customers who want to earn interest on their deposits
and also want convenient access to their funds.
Minimum
Initial Deposit: $100.00
Rate
Determination
– Interest rate and annual percentage yield may change
at any time.
Compounding and crediting frequency - Interest
will be compounded every quarter. Interest will be credited
to your account every quarter.
Effect of closing an account - If you close your
account before interest is credited, you will not receive
the accrued interest.
Minimum balance to open the account - You must
deposit $100.00 to open this account.
Minimum balance to avoid imposition of fees - A
monthly maintenance fee of $5.00 will be imposed every month
if the balance in the account falls below $100.00 any day
of the month.
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 on the business day you deposit non-cash
items (for example, checks).
Transaction limitations: Transfers from a Passbook
Savings account to another account or to third parties by
preauthorized, automatic, telephone, or computer transfer
are limited to six per month with no transfers by check, draft,
debit card, or similar order to third parties.
Fees:
- A per
debit fee of $2.00 will be charged for each debit transaction
(withdrawal, check paid, automatic transfer or payment out
of this account) in excess of three during a calendar month.
- A closing
fee of $24.99 will be charged if this account is closed
by withdrawal within 90 days of opening.
Click
here to download the E-Statement Sign-Up Form (PDF)
|
