ROCK SPRINGS NATIONAL BANK
DISCLOSURE OF INTEREST, FEES AND ACCOUNT
TERMS
INDIVIDUAL RETIREMENT ACCOUNTS
MINIMUM BALANCE REQUIREMENTS
- THE MINIMUM INITIAL DEPOSIT TO OPEN THIS ACCOUNT IS $250
FEES
- $25.00 WILL BE ASSESSED FOR TRANSFERRING THE IRA TO ANOTHER INSTITUTION
BALANCE COMPUTATION METHOD
- INTEREST IS CALCULATED BY THE USING THE DAILY BALANCE METHOD, WHICH APPLIES A DAILY PERIODIC RATE TO THE BALANCE IN THE ACCOUNT EACH DAY.
RATE INFORMATION
- A CUSTOMER SERVICE REPRESENTATIVE WILL PROVIDE YOU WITH A RATE SHEET. YOUR INTEREST RATE AND ANNUAL PERCENTAGE YIELD MAY CHANGE. AT OUR DISCRETION, WE MAY CHANGE THE RATE FOR YOUR ACCOUNT AT ANY TIME
COMPOUNDING AND CREDITING
- INTEREST WILL BE COMPOUNDED AND CREDITED QUARTERLY ON THE LAST DAY BUSINESS DAY OF THE QUARTER. IF YOU CLOSE YOUR ACCOUNT BEFORE INTEREST IS CREDITED, YOU WILL RECEIVE THE ACCRUED INTEREST
ACCRUAL OF INTEREST ON NON-CASH DEPOSITS
- INTEREST BEGINS TO ACCRUE NO LATER THAN THE BUSINESS DAY WE RECEIVE CREDIT FOR THE DEPOSIT OF NON-CASH ITEMS
TRANSACTION LIMITATIONS
OTHER TERMS
- THIS ACCOUNT WILL CONSIST OF A CHECKING SUB ACCOUNT AND A SAVINGS SUB ACCOUNT. THE BANK MAY PERIODICALLY TRANSFER FUNDS BETWEEN THESE TWO SUB ACCOUNTS. IF YOUR ACCOUNT IS A PLAN ON WHICH INTEREST IS PAID, YOUR INTEREST CALCULATION WILL REMAIN THE SAME. OTHERWISE, THE SUB SAVINGS ACCOUNT WILL BE NOT INTEREST BEARING. THE SAVINGS SUB ACCOUNT WILL BE GOVERNED BY THE SAME RULES GOVERNING OUR OTHER SAVINGS ACCOUNTS. THIS PROCESS WILL NOT AFFECT YOUR AVAILABLE BALANCE, THE INTEREST YOU MAY EARN, FDIC INSURANCE PROTECTION, OR YOUR MONTHLY STATEMENT.
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