Personal Banking: Tiered Insured Money Market Account
This account offers four-tiers to provide you with great options. The tiers are as follows:
- Tier 1 ranges from $2,500.00 to $9,999.99 balances
- Tier 2 ranges from $10,000.00 to $49,999.99 balances
- Tier 3 ranges from $50,000.00 to $99,999.99 balances
- Tier 4 ranges from $100,000.00 to $499,999.99 balances
- Tier 5 ranges from $500,000.00 to $4,999,999.99 balances
- Tier 6 ranges from $5,000,000.00 or more balances
Please see the Deposit Rate Page of this web site for current rates.
You must deposit $2,500.00 to open this account. Also, to avoid the monthly maintenance fee of $10.00 the balance in the account must not fall below $2,500.00 during a statement cycle. Interest will be compounded every day and interest will be credited to your account every month. The interest for this account will be calculated using the daily balance method. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks). You must maintain a minimum balance of $2,500.00 in the account each day to obtain the disclosed annual percentage yield. At our discretion, we may change the interest rate on your account. Transfers from a Tiered Insured Money Market Account to another account or to third parties by pre-authorized, automatic, telephone, or computer transfer are limited to six per statement cycle with no more than three by check, draft, debit card, or similar order to third parties. An excess debit charge fee of $5.00 will be charged for each check paid, automatic transfer or payment out of this account in excess of three during a statement cycle.
