Business Interest Checking
RATE INFORMATION. The interest rate listed in each tier will be paid on the entire balance in your account. Please ask a bank representative to fill in rates.
(Wilson State Bank will not bank commercial entities that engage in Internet gambling activities)
|TIER||AVERAGE DAILY BALANCE RANGE||INTEREST RATE||ANNUAL PERCENTAGE YIELD (APY)|
|1||Equal to or greater than $0.00 but less than $2,500.00||Contact bank for current rates.|
|2||Equal to or greater than $2,500.00 but less than $10,000.00||Contact bank for current rates.|
|3||Equal to or greater than $10,000.00 but less than $25,000.00||Contact bank for current rates.|
|4||Equal to or greater than $25,000.00||Contact bank for current rates.|
Your interest rate and annual percentage yield may change.
CURRENT RATE INFORMATION. The rate(s) and annual percentage yield(s) disclosed above were offered within the most recent seven calendar days. To obtain the current rate(s) and annual percentage yield information, please call your local branch.
Determination of Rate. At our discretion, we may change the interest rate on your account.
Frequency of Rate Change. We may change the interest rate on your account.
Limitations on Rate Changes. There are no maximum or minimum interest rate limits for this account.
COMPOUNDING AND CREDITING. Interest will be compounded monthly and will be credited to the account monthly. If you close your account before interest is credited, you will not receive the accrued interest.
MINIMUM BALANCE TO OBTAIN THE ANNUAL PERCENTAGE YIELD DISCLOSED. You must maintain a minimum average daily balance of $2,500.00 in the account to obtain the annual percentage yield.
BALANCE COMPUTATION METHOD. We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
ACCRUAL ON NONCASH DEPOSITS. Interest begins to accrue on the business day you deposit noncash items (for example, checks).
MINIMUM BALANCE REQUIREMENTS. You must deposit $2,500.00 to open this account. A service charge of $25.00 will be imposed every statement cycle if the average daily balance for the statement cycle falls below $2,500.00.
PROCESSING ORDER. All credit transactions are processed first. Debits, or withdrawals, from your account will be processed from the lowest dollar amount to the highest dollar amount. The processing order of these items is important because if there is not enough money in the account to pay for the items in the order they are processed in accordance with the processing order, there may be an overdraft on your account which may result in overdraft or non-sufficient fees or an increase in the amount of these fees.
TRANSACTION LIMITATIONS. No transaction limitations apply to this account.
FEES AND CHARGES. Please refer to the separate Fee Schedule provided to you with this disclosure for information about fees and charges associated with this account. A Fee Schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.