Information - This is a tiered rate account.
Your interest rate and annual percentage yield are
based on the balance in your account. The
interest rates within the tiers may change.
Determination of rate and frequency of change - Rates
are determined at the discretion of bank
management. We may change the interest rate on
our account at any time.
Compounding and crediting frequency - Interest
will be compounded every month and credited to your
account every month.
Minimum balance to avoid imposition of fees - A
monthly maintenance fee of $5 will be imposed every
statement cycle if the balance in the account falls
below $500 any day of the cycle.
Daily collected balance computation method - We
use the daily collected 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 no later than the business day we
receive credit for the deposit of non-cash items (for
Fees - A cash machine transaction fee of $1 will
be charged for each transaction performed at
non-proprietary ATM's. A non-proprietary ATM is
a cash machine not owned by Community National Bank