Soy
Select is for customers that have a higher balance ($50,000)
and can earn more interest than other typical money market
accounts with the added benefit of FDIC insurance.
For
those who want the convenience of writing checks on their
account while earning a high rate of interest on their money,
Soy Select Money Market is for you. You may write up to
three checks each month with no penalty.
Rate
Information - Your interest rate and annual percentage
yield may change.
Frequency of rate changes - We may change the
interest rate on your account every week.
Determination of rate - Variable APY (Annual
Percentage Yield) rate set at not less than 75% of the Fed
Funds Rate.
Compounding and crediting frequency
- Interest will be compounded every month. Interest will
be credited to your account every month.
Effect of closing an account - If you close your
account before interest is credited, you will not receive
the accrued interest.
Minimum balance to open the account - You must
deposit $50,000.00 to open this account.
Minimum balance to avoid imposition of fees -
A monthly maintenance fee of $25.00 will be imposed every
statement cycle if the balance in the account falls below
$50,000.00 any day of the cycle.
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).
Transaction limitations:
Transfers from a Soy Select Money Market account to another
account or to third parties by preauthorized, automatic,
telephone or computer transfer are limited to six per statement
cycle with no more than three by check, draft or similar
order to third parties.
Fees:
A per debit fee of $5.00 will be charged for each debit
transaction (withdrawal, check paid, automatic transfer
or payment out of this account) in excess of three during
a monthly statement cycle.
Variable
APY (Annual Percentage Yield) rate set at not less than
75% of the Fed Funds Rate. APY is accurate as of May 30,
2001 and may change weekly. Interest compuonded and posted
monthly to account. If minimum balance falls below $50,000
a $25.00 monthly fee applies and interest reverts to passbook
savings rate. Fees could reduce earnings on this account.
Interest begins to accrue on the business day you deposit
non-cash items (for example, checks). A per debit fee
of $5.00 will be charged for each transaction (withdrawal,
check paid, automatic transfer or payment out of this
account) in excess of three during a monthly statment
cycle.
Click
here to download the E-Statement Sign-Up Form (PDF)
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