BANK XYZ
DISCLOSURE OF INTEREST, FEES,
AND ACCOUNT TERMS
NOW ACCOUNT
Fee
schedule
•
Monthly
minimum-balance fee if the daily balance drops below $1,000 any day
of the month
$7.00
•
Fee
to stop payment of a check
$12.50
•
Fee
for check returns (insufficient
funds—per check)
$16.00
•
Certified
check (per check)
$10.00
•
Fee
for initial check printing
(per 200)
$12.00
(Cost for
check printing varies depending on the style of checks ordered.)
Rate information
- The interest rate for your account is 4.00% with an annual percentage yield of 4.08%. Your interest
rate and annual percentage yield may change. At our discretion, we
may change the interest rate for your account at any time. The interest
rate for your account will never be less than 2% each year.
Minimum-balance requirements
- You must deposit $500 to open this account.
- You must maintain a minimum balance of $2,500 in
the account each day to obtain the annual percentage yield listed
above.
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.
Compounding and crediting
- Interest for your account will be compounded daily
and credited to your account on the last day of each month.
Accrual of interest on deposits other than cash
- Interest begins to accrue on the business day you
deposit noncash items (for example, checks).
