|
Farmers State Bank
NOW Account Disclosures
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 $1,500.00.
- A minimum balance fee of $4.00 will
be imposed every month if the balance in the account falls
below $1,500.00 any day of the month.
- You must maintain a minimum balance of $1,500.00
in the account each day to obtain the disclosed annual percentage
yield.
Compounding and Crediting Policies
- Interest will be compounded on a monthly
basis.
- Interest will be credited to your account
on a monthly 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
- The following fees may be assessed against
your account:
- Fee for each check you write on this
account $0.13.
- Fee per month for not maintaining a $1,500.00
minimum balance everyday of the cycle period $4.00.
- 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.
|
