Calculation Method. We use the daily balance method to calculate interest and determine the minimum balance requirements on your account. This method applies a daily periodic rate to the daily balance in the account each day. Minimum Balance Requirements and Transaction Limitations. The minimum balance requirements for your accounts are disclosed in the minimum balance requirement and account rate information section of this disclosure. CERTIFICATE OF DEPOSIT Rate Information. Your interest rate and annual percentage yield will remain in effect until the first maturity date. The annual percentage yield assumes interest remains on deposit until the maturity date. Any withdrawal of funds will reduce earnings. Accrual of Interest on Non-cash Items. Accrual of interest on non-cash items Interest Compounding and Crediting. Interest on your account will be compounded continuously and credited monthly.
Appears in 2 contracts
Sources: Deposit Account Agreement, Deposit Account Agreement