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APY is accurate as of 12/02/08 Minimum Opening Balance $2,500.00. Balance | Interest Rate | APY** | | $2,500 - 9,999.99 | 0.41% | 0.41% | | $10,000 - 24,999.99 | 0.41% | 0.41% | | $25,000 - 99,999.99 | 0.41% | 0.41% | | $100,000 - 249,999.99 | 0.91% | 0.91% | | $250,000 and Over | 1.41% | 1.42% |
This account may be opened by businesses or individuals. This account is not available for Government funds. Interest Rate Change The interest rate is indexed to the 3 month LIBOR and is subject to change the 1st calendar day of each month. Compounding and Crediting
Interest will be compounded monthly. Interest will be credited to your account monthly. The Average Daily Balance Method will be used to calculate interest on your account. Fees
If the balance falls below $10,000 anytime during the month there will be a $10 fee.* (The interest rate will be 0.50% with an Annual Percentage Yield (APY) of 0.50% on balances below $10,000.) Fees could reduce earnings on your account* Penalties
A $25.00 closing fee will be assessed if closed during the first 180 days. ** APY=Annual Percentage Yield Stop by one of our convenient locations and talk to one of our customer service representatives about opening The Cumberland Reserve Account. We look forward to seeing you!
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