Interest Bearing Regular Business Checking
Minimum balance to open the account – $100
Minimum balance required to avoid $10 monthly maintenance fee - $2,500
Number of checks and ACH items paid with no per item fee - 75
Cost for each debit item over limit in cycle - $ .15
Rate Information – Ask a customer service representative for current rate information. Rates are subject to change at any time.
Compounding and crediting frequency – Interest will be compounded and credited to the account every month.
Effect of closing an account – If the account is closed before the interest is credited to the account you will not receive the accrued interest.
Minimum balance to obtain the annual percentage yield disclosed – A minimum balance of $100 must be maintained 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 the 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 the non-cash items were deposited (For example, checks).
Corporate resolution or DBA papers must be on file with Peoples Federal Savings Bank.
Checks may be ordered from Deluxe Check Printers at the bank at the customer’s expense.
Please see a new accounts representative for further details.
