| Accounts | Minimum Deposit to Open Account | Min Balance to Avoid Fees | Rate of Interest Earned (compounded daily) | Monthly Service Charge | Statement Cycle |
|---|---|---|---|---|---|
| Tiered Savings | $100 | $100 |
Variable;
Interest earned at Tier 1 rate on balances $0-$9,999.99
Interest earned at Tier 2 rate on balances $10,000.00 or higher
|
$2 per month
(waived if account owner under 19 yrs) |
Quarterly
(Any pre-authorized or ATM transactions: monthly)
|
| Mini Millionaire Monkey Club (Children age 12 & under) | N/A | N/A |
Variable
|
N/A
|
Semi-Annually
|
| Christmas Club** | $1 | N/A | Variable |
N/A
|
N/A
|
Savings
**Christmas Club Account
- Minimum weekly, biweekly or monthly deposit is required $1.00
- All additional deposits must be funded by automatic transfer from a First State Bank, Belmond, IA checking or savings account.
- If any withdrawal is made from this account before October 15, this account will be closed (unpaid accrued interest will not be credited).
- Interested is paid on the collected balance plus accrued interest that is unpaid, compounded daily using the Daily Balance Method and credited to the account annually (on or before October 15).