BANK ABC
DISCLOSURE OF ACCOUNT TERMS
This disclosure contains information
about your:
X NOW Account
- Your interest rate and annual percentage yield may
change. At our discretion, we may change the interest rate on your
account daily. The interest rate for your account will never be less
than 2.00%.
- Interest begins to accrue on the business day you
deposit noncash items (for example, checks).
- Interest is compounded daily and credited on the last
day of each month. If you close your account before interest is credited,
you will not receive the accrued interest.
- 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.
Passbook Savings Account
- The interest rate on your account will be paid for
at least 30 days.
- Interest begins to accrue on the business day you
deposit noncash items (for example, checks).
- Interest is compounded daily and credited on the
last day of each month. If you close your account before interest
is credited, you will not receive the accrued interests.
- 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.
Additional disclosures for your account are included on
the attached sheets.
Money Market Account
- Your interest rate and annual percentage yield may
change. At our discretion, we may change the interest rate on your
account daily. The interest rate on your account will never be less
than 3.00%.
- You may make six (6) transfers from your account,
but only three (3) may be payments by check to third parties.
- Interest begins to accrue on the business day you
deposit noncash items (for example, checks).
- Interest is compounded daily and credited on the
last day of each month. If you close your account before interest
is credited, you will not receive the accrued interest.
- 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.
Certificates of Deposit
- The interest rate for your account will be paid until
the maturity date of your certificate (
).
- Interest is compounded daily and will be credited
to your account monthly.
- Interest begins to accrue on the business day you
deposit noncash items (for example, checks).
- This account will automatically renew at maturity.
You will have ten (10) calendar days from the maturity date to withdraw
your funds without beng charged a penalty.
- After the account is opened, you may not make deposits
into or withdrawals from this account until the maturity date.
- 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.
- If any of the deposit is withdrawn before the maturity
date, a penalty as shown below will be imposed:
Term
| |
Term |
Early Withdrawal Penalty |
| |
3-month CD |
30 days’ interest |
| |
6-month CD |
90 days’ interest |
| |
1-year CD |
120 days’ interest |
| |
2-year CD |
180 days’ interest |
Additional disclosures for your account are
included on the attached sheets.
[Fee Schedule
Insert]
BANK ABC
FEE SCHEDULE
NOW Account
- Monthly minimum-balance fee if the daily balance drops
below $500 any day of the month
$7.50
Passbook Savings Account
- Monthly minimum-balance fee if the daily balance drops
below $100 any day of the month
$6.00
- You may make three (3) withdrawals per quarter.
Each subsequent withdrawal
$2.00
Money Market Account
- Monthly minimum-balance fee if the daily balance
drops below $1,000 any day of the month
$5.00
Other Account Fees
- Deposited checks returned
$5.00
- Balance inquiries (at a branch or at an ATM)
$1.00
- Check printing*
(Fee depends on
style
of check ordered)
- Your check returned for insufficient funds (per check)*
$16.00
- Stop-payment request (per request)*
$12.50
- Certified check (per check)*
$10.00
* Fee does not apply to passbook savings accounts or certificates
of deposit.
Additional disclosures for your account
are included on the attached sheet.
BANK ABC RATE
SHEET
| (Rate Sheet Insert) |
| BANK ABC RATE SHEET |
| Account Type |
Minimum Deposit to Open Account |
Minimum Balance* to Obtain Annual Percentage Yield |
Interest Rate |
Annual Percentage Yield |
| NOW
|
$ 500 |
$2,500 |
4.00% |
4.08% |
| Passbook Savings
|
$ 100 |
$ 500 |
3.50% |
3.56% |
| Money Market
|
$1,000 |
$1,000 |
4.15% |
4.24% |
| 3-Month CD
|
$1,000 |
$1,000 |
4.20% |
4.29% |
| 6-Month CD
|
$1,000 |
$1,000 |
4.25% |
4.34% |
| 1-Year CD
|
$1,000 |
$1,000 |
5.20% |
5.34% |
| 2-Year CD
|
$1,000 |
$1,000 |
5.80% |
5.97% |
* Daily
balance (the amount of principal in the account each day)
