This disclosure contains the rules which govern your Worry Free Savings deposit account.
The interest rate for your account is variable. Your interest rate and annual percentage yield may change at any time. As of April 15, 2020, Worry Free Savings rates are:
|Worry Free Savings Balance Range||Interest Rate||Annual Percentage Yield (APY)|
Determination of Rate
At our discretion, we may change the interest rate on your account.
Frequency of Rate Change
We may change the interest rate on your account at any time.
Minimum Balance Requirements
To open the account, you must deposit at least $1,000.00 within 30 days. You must maintain a minimum balance of $50,000.00 or $250,000.00 in the account each day to obtain the disclosed annual percentage yield for that tier.
Compounding and Crediting
Interest will be compounded and credited to your account every month. If you close your account before interest is credited, you will not receive the accrued interest.
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. Interest begins to accrue on the day we post your electronic transfer deposit.
No debit or ATM card features are available on this electronic account.