Additionally, deposits will not be accepted into this account once the account balance has accumulated a balance of $1,000,000 however interest will continue to accrue as scheduled.īalance Computation Method: We use the daily balance method to calculate the interest on your account. Maximum Aggregate Deposit Restriction: The maximum deposit amount allowed to open this account is $1,000,000. Minimum Balance Requirements: You must deposit at least $10 to open this account. If you close your account before interest is credited, you will not receive the accrued interest. At our discretion, we may change the interest rate on your account daily.Ĭompounding and Crediting: Interest will be compounded monthly and will be credited to your account monthly. Your interest rate and annual percentage yield may change. Interest Rate Information: Click here to view current rate and annual percentage yield. Please refer to our Consumer Banking Services Agreement and current Fee Schedule for additional information of importance to you.Įligibility Requirements: Account must be opened with funds not currently on deposit with Salem Five Bank. This disclosure describes the terms and features of the Gold Star Money Market Account offered by Salem Five Cents Savings Bank. Gold Star Money Market Account DisclosureĪre you opening an account online? After reviewing this document, please close the window and you will be returned to your application to complete it.
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