Truth-in-Savings Disclosure
Max Money Market Account
Date: 10/18/2023
This disclosure sets forth certain conditions, rates, fees and charges that are specific to your Account. Each Account Owner agrees to the terms set forth on this Truth in Savings Disclosure, and acknowledges that it is part of the Account Agreement. We may change the rates, fees and charges contained in this schedule from time to time in accordance with applicable laws.
The interest rate and annual percentage yield stated below are accurate as of the date printed above. If you would like more current rate and yield information please call us at 877-802-1212.
This disclosure contains the rules which govern your deposit account. Unless it would be inconsistent to do so, words and phrases used in this disclosure should be construed so that the singular includes the plural and the plural includes the singular.
Variable Rate. The interest rate and annual percentage yield for your account depend upon the applicable rate tier. The interest rate and annual percentage yield for these tiers may change.
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 at anytime.
Minimum Balance Requirements
To open the account. You must deposit at least $1,000.00 to open this account.
To avoid imposition of fees. To avoid the imposition of the maintenance fee you must meet the following requirements:
- A maintenance fee of $12.00 will be imposed every month if the balance in the account falls below $1,000.00 any day of the statement cycle.
Compounding and Crediting
Frequency. Interest will be compounded monthly. Interest will be credited to the account monthly.
Effect of Closing an Account. If you close your account before interest is credited, you will not receive the accrued interest.
Balance Computation Method
Daily Balance Method. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of Interest on Noncash Deposits
Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
Transaction Limitations
The following fees may be assessed aainst your account:
Six (6) free debits every quarter; $10.00 per each debit processed after six (6). Debits include withdrawals, checks paid, electronic transfers, or payments out of the account.
Additional Terms
Peoples Bank reserves the right to limit deposit balances at any time.
Rate
| Range of Balances |
Interest Rate |
APY |
| $0.00 - $999.99 |
0.05% |
0.05% |
| $1,000.00 - $14,999.99 |
0.05% |
0.05% |
| $15,000.00 - $49,999.99 |
0.10% |
0.10% |
| $50,000.00 - $99,999.99 |
0.10% |
0.10% |
| $100,000.00 - $249,999.99 |
0.20% |
0.20% |
| $250,000.00 - $499,999.99 |
0.30% |
0.30% |
| $500,000.00 - $999,999.99 |
0.50% |
0.50% |
| $1,000,000.00 - $99,999,999.99 |
2.00% |
2.02% |
