The Million Dollar Club
Welcome to The Million Dollar Club, your next chapter with First State Bank continues...
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New Money Only.
The interest rate listed in each tier will be paid on the entire balance in your account.
||Average Daily Balance Range
||Annual Percentage Yield (APY)
||Equal to or greater than $50,000 but less than $1,000,000
||Equal to or greater than $1,000,000 but less $999,999,999.99
Determination of Rate
At our discretion, we may change the interest rate on your account.
Frequency of Rate Changes. We may change the interest rate on your account at any time.
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 REQUIREMENTS
You must deposit $1,000,000 to open this account. You must maintain a minimum average daily balance of $1,000,000 to obtain the disclosed Annual Percentage Rate.
DORMANT/INACTIVE ACCOUNT INFORMATION
See Separate Schedule of Fees.
All credit transactions are processed first. 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 funds fees or an increase in the amount of these fees.
The Bank has chosen to pay certain exception items and overdraft related fees first. Then the bank pays A TM items followed by ACH transactions, internal transfers, debit card transactions, on-us checks, all other checks, and other fees. All electronic items (such as ATM, ACH and Debit card items) are paid in an ascending amount order (meaning they are paid from the smallest amount to the largest amount) and checks are paid in serial number order.
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 NON CASH DEPOSITS
Interest begins to accrue on the business day you deposit noncash items (for example, checks).
You may make no more than six transfers from this account to another account or to third parties by preauthorized, automatic transfer, or telephone transfer per month or statement cycle.
FEES AND CHARGES
Please refer to the separate Schedule of Fees provided to you with this disclosure for information about fees and charges associated with this account. A Schedule of Fees will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.