(a) Rate information
(i) Fixed-rate accounts
The
interest rate on your account is % with an annual percentage
yield of %.
You
will be paid this rate
[for (time period) /until (date) /for
at least 30 calendar days].
(ii) Variable-rate
accounts
Determination of rate
The
interest rate on your account is based on (name of index) [plus/minus a margin of ].
or
At
our discretion, we may change the interest rate on your account.
Frequency of
rate changes
Limitations on
rate changes
The
interest rate for your account will never change by more than % each (time period) .
The
interest rate will never be [less/more] than %.
or
The
interest rate will never [exceed % above/drop more than % below] the interest rate initially disclosed to you.
(iii)
Stepped-rate accounts
The
initial interest rate for your account is %. You will be
paid this rate [for (time period) /until (date) ]. After that time, the interest rate for your account will
be %, and you will be paid this rate [ for (time period) /until ( date )]. The annual percentage yield
for your account is %.
(iv) Tiered-rate
accounts
Tiering Method A
•
If
your [daily balance/average daily balance] is $ or more,
the interest rate paid on the entire balance in your account will
be % with an annual percentage yield of %.
•
If your [daily balance/average daily balance] is more than $ , but less than $ , the interest rate paid on the entire
balance in your account will be % with an annual percentage
yield of %.
•
If
your [daily balance/average daily balance] is $ or less,
the interest rate paid on the entire balance will be % with
an annual percentage yield of %.
Tiering Method
B
•
An
interest rate of % will be paid only for that portion of
your [daily balance/average daily balance] that is greater than $ . The annual percentage yield for this tier will range from % to %, depending on the balance in the account.
•
An
interest rate of % will be paid only for that portion of
your [daily balance/average daily balance] that is greater than $ , but less than $ . The annual percentage yield for
this tier will range from % to %, depending on
the balance in the account.
•
If
your [daily balance/average daily balance] is $ or less,
the interest rate paid on the entire balance will be % with
an annual percentage yield of %.
6-6940.1
(b) Compounding and crediting
(i) Frequency
(ii) Effect of closing
an account
6-6940.2
(c) Minimum-balance requirements
(i) To open the account
(ii) To avoid imposition
of fees
A
minimum balance fee of $ will be imposed every (time
period) if the balance in the account falls below $ any day of the (time period) .
A
minimum balance fee of $ will be imposed every (time
period) if the average daily balance for the (time
period) falls below $ . The average daily balance
is calculated by adding the principal in the account for each day
of the period and dividing that figure by the number of days in the
period.
(iii) To obtain the annual percentage yield
disclosed
You
must maintain a minimum balance of $ in the account each
day to obtain the disclosed annual percentage yield.
You
must maintain a minimum average daily balance of $ to obtain
the disclosed annual percentage yield. The average daily balance is
calculated by adding the principal in the account for each day of
the period and dividing that figure by the number of days in the period.
6-6940.3
(d) Balance-computation
method
(i) Daily-balance method
(ii) Average-daily-balance
method
6-6940.4
(e) Accrual of interest
on noncash deposits
Interest
begins to accrue no later than the business day we receive credit
for the deposit of noncash items (for example, checks).
or
Interest
begins to accrue on the business day you deposit noncash items (for
example, checks)
6-6940.5
(f) Fees
Fees
| |
|
$
|
| |
|
$
|
| |
|
$
|
| |
(conditions for imposing fee) |
$
|
| |
% of
|
6-6940.6
(g) Transaction limitations
The
minimum amount you may [withdraw/write a check for] is $ .
You
may make [deposits into/withdrawals from ] your account
each (time period) .
You
may not make [deposits into/withdrawals from] your account until the
maturity date.
6-6940.7
(h) Disclosures relating
to time accounts
(i) Time requirements
(ii) Early withdrawal
penalties
We
[will/may] impose a penalty if you withdraw [ any/all] of the [deposited
funds/principal] before the maturity date. The fee imposed will equal days/weeks[s]/months[s ] of interest.
or
We
[will/may] impose a penalty of $ if you withdraw [any/all]
of the [deposited funds/principal] before the maturity date.
If
you withdraw some of your funds before maturity, the interest rate
for the remaining funds in your account will be % with an
annual percentage yield of %.
(iii) Withdrawal of
interest prior to maturity
(iv) Renewal policies
(1)
Automatically renewable time accounts
This
account will automatically renew at maturity.
You
will have [ calendar/business] days after the maturity date
to withdraw funds without penalty.
or
There
is no grace period following the maturity of this account to withdraw
funds without penalty.
(2)
Non-automatically
renewable time accounts
This
account will not renew automatically at maturity. If you do not renew
the account, your deposit will be placed in [an interest-bearing/a
non-interest-bearing] account.
(v) Required
interest distribution
This account requires the distribution of
interest and does not allow interest to remain in the account.
6-6940.8
(i) Bonuses
You will [be paid/receive] [$
/ (description of item) ] as a bonus [when you open
the account/on (date) ].
You must maintain a minimum
[daily balance/average daily balance ] of $ to obtain the
bonus.
To earn the bonus,
[$ /your entire principal] must remain on deposit [for (time period) /until (date) ].
