SecurityAdvantageSM Money Market
Rate Information
Your interest rate and Annual Percentage Yield (APY) 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 month.
Minimum Balance To Open The Account
You must deposit $1,000.00 to open this account.
Minimum Balance To Avoid Imposition Of Fees
A minimum balance 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 (APY).
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 on the business day you deposit noncash items (for example, checks).
Transaction Limitations
Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per month with no more than three by check, draft or similar order to third parties.
Notice of Withdrawal
We reserve the right to require not less than seven (7) days’ notice in writing before any withdrawal from your Money Market Account.
Fees
An excess withdrawal fee of $10.00 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account) in excess of six during a month. An early closing fee of $20.00 will be charged if account is closed within 90 days of opening.
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