Account Overview – The Flex Savings Account offers a better return on your money than the statement savings account using a tiered rate system.
Rate Information – You may obtain current rates at any branch office or on-line. Your interest rate and annual percentage yield may change at any time.
Compounding and crediting frequency – Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account – You must deposit $5,000 to open this account
Minimum balance to obtain the annual percentage yield disclosed – You must maintain a minimum balance of $100 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 on the first business day after the banking day you deposit non-cash items (for example, checks).
Transaction limitations - Transfers from a Flex Savings account to another account or to third parties by preauthorized, automatic, internet or telephone transfer are limited to six per month with no transfers by check, draft, debit card, or similar order to third parties. There are no limitations on over the counter withdrawals.
Statement Flex Account Rate Information
• Tier 1 - $25,000 or greater
• Tier 2 - $5000 to $24,999.99
• Tier 3 - $100 to $4,999.99
• Below $100 – No interest