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Farmers State Bank
IRA Savings Account
All IRA Rules apply
Further Disclosures are part of the IRA enrollment Form
Rate Information
- For current rate and yield information, please see our Deposit
Rates.
- At our discretion, we may change the interest
rate on your account. We may change the interest rate on your
account weekly.
- The interest rate on your account will never
change by more than 1.00% each week.
Minimum balance requirements
- To open your account you must deposit $50.00.
- You must maintain a minimum balance of $50.00
in the account each day to obtain the disclosed annual percentage
yield.
Compounding and Crediting Policies
- Interest will be compounded on a semi-annual
basis.
- Interest will be credited to your account
on a semi-annual basis.
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.
Fees
- Additional fees which may be assessed against
your account are disclosed on the Schedule
of Fees.
Call toll free 1-888-879-2183 or email
us to obtain further information.
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