The interest rate on this account can fluctuate at any given time depending on market rates. The account currently offers a savings interest rate of 1.98% with an annual yield percentage of 2%.
At our discretion, we may change the interest rate on your account.
We may change the interest rate on your account at any time.
There are no maximum or minimum interest rate limits for this account.
Interest is compounded daily and credited to the customer account monthly. If you close your account, you will still receive all interest accrued while the account was open. The cut off time for interest calculation will be 3:59 UTC.
No minimum balance is required to open or to obtain the account’s annual percentage yield. Your account statement cycle is monthly.
We use the Daily Balance Method which applies a daily periodic rate to the account balance that has accrued in the Account each day. Interest will be calculated daily, including holidays and weekends. This means that the interest from the Account is calculated everyday on 365 days a year and 366 days a year for leap years.
Interest begins to accrue on the business day you deposit noncash items (for example, checks). The cut off time for interest calculation will be 3:59 UTC. All deposits after the cut off time will have the posting day of the following business day.
Currently, there is no withdrawal limitation on your account due to the Covid-related policy implemented by the Federal Reserve. You may make more than 6 withdrawal(s) from your account every quarter. However, should the withdrawal limitations be re-established, you will only be allowed 6 withdrawal(s) from your account every quarter.