Business Treasury Savings Account
The Business Treasury Savings Account is a variable rate tiered account. You must maintain a minimum balance of $5,000.00 in the account to obtain the disclosed annual percentage yield. If your account drops below $5,000.00, you will receive the interest rate applicable to the regular Passbook savings account.
Determination of Rate:
At our discretion we may change the interest rate on your account. The rates for each tier will be set each Wednesday. The interest rate increases with each tier. Tiers will be determined as follows:
- Tier One: Your daily balance is greater than zero, but less than $5,000.00
- Tier Two: Your daily balance is equal to or greater than $5,000.00, but less than $25,000.00
- Tier Three: Your daily balance is equal to or greater than $25,000.00 but less than $100,000.00
- Tier Four: Your daily balance is equal to or greater than $100,000.00 but less than $250,000.00
- Tier Five: Your daily balance is equal to or greater than $250,000.00 but less than $500,000.00
- Tier Six: Your daily balance is equal to or greater than $500,000.00
Compounding/crediting frequency: Interest will be compounded/credited every monthly statement cycle.
Effect of closing an account: If you close your account before interest is credited, you will not receive the accrued interest.
A service charge of $1.00 for maintenance fees will be charged per monthly statement cycle. Transactions are limited to four (4) free withdrawals per statement cycle. A per item fee of $6.00 will be charged for each additional transaction. Transactions may not exceed six withdrawals from your account every monthly statement cycle with no transfers by check, draft, debit card, or similar order to third parties.