Your interest rate and annual percentage yield may change.
Frequency of rate changes:
We may change the interest rate on your account at any time.
Determination of rate:
At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency:
Interest will be compounded and credited to your account every quarter.
Effect of closing an account:
If you close your account before interest is credited you will not receive the accrued interest.
Daily balance computation 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 on the business day you deposit noncash items (for example, checks).
Transfers from a Passbook Savings account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per month with no transfers by check, draft, debit card, or similar order to third parties.