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Business Savings Accounts This account requires a balance of $200 to earn interest and must maintain a balance of $50 to be service charge free.If the balance drops below the $50, the service charge is $1 per month. Excess savings withdrawals (over 6) are charged $1 each. We use the daily balance method to calculate the interest on this account. This method applied a daily periodic rate to the principal in the account each day. This account is an interest bearing account. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account at any time. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks). Interest will be compounded monthly and will be credited to the account monthly. If the account is closed before the interest is credited you will not receive the accrued interest. Please contact a New Account Representative for current interest rate information. Simple Savings Calculator - This is a simple calculator that lets you start with an amount of money and make regular monthly deposits, and see how much it grows. Please Note - The calculated amount is an approximate value and may differ from the bank's final calculation. |
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