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| Another
type of savings account which, with a balance of $2,500.00 or more
can earn you a higher yield than regular savings. There are
unlimited deposits on this type of account.
| Money
Market Savings Account |
| Minimum
Deposit to Open |
| $2,500.00 |
| Minimum
Balance to obtain APY* |
| $2,500.00 |
| Interest
Rate** |
| 1.25% |
| Annual
Percentage Yield** |
| 1.26% |
| Account
Terms |
- The interest rate and
annual percentage yield may change at our discretion.
- Interest begins to accrue
on the business day you deposit non-cash items (For
example, checks).
- Interest is compounded
daily and credited monthly.
- If you close your account
before the 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.
- $5 monthly fee if the
account is dormant for 3 years or more.
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Rates Effective July 1, 2009
*Daily Balance (the amount of principal in
the account each day).
Annual percentage yield assumes that interest remains on deposit.
Withdrawal of interest will reduce earnings.
**Rates subject to change without notice. Please call 201 339-4600 for
current rates.
***Transaction limits apply. Under federal regulations, you are allowed up to six pre-authorized withdrawals per monthly statement cycle,(including telephone or electronic transfer).
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