Personal Savings Account Information
General Information
You agree to pay the fees and charges listed in our Account Disclosures, Terms, Conditions, and Miscellaneous Fees and Charges Schedule. A copy will be provided to you at the earlier of your request or at the time of account opening. These accounts are available to personal accounts only.
A traditional
savings account is one of the most convenient ways to accumulate funds
with the benefit of interest earnings.
Rate information: Your interest rate and Annual Percentage Yield may change from time to time.
Frequency of rate changes: We may change the interest
rate on your account at any time.
Compounding and crediting frequency: Interest
will be compounded every day and will be credited to your account every
quarter.
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: $200
Minimum balance to avoid imposition of fees: A
quarterly fee of $3.00 will be imposed every quarter if the balance
falls below $200 on any day of the quarter.
Daily balance computation method: Far
East National Bank (FENB) uses 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 non-cash deposits: Interest
begins to accrue no later than the business day FENB receives credit
for the deposit of non-cash items (for example, checks.)
Transaction limitations: Transfers from a savings
account to another account or to third parties by pre-authorized, automatic,
or telephone transfer are limited to six per month with no transfers
by check, draft, debit card, or similar order to third parties.If you
exceed the stated transaction limitations, regulations require that your
account be closed or converted to a checking account.
Fees: An excess withdrawal fee of $1.50 will be charged for each withdrawal in excess of three during a quarter. This fee will apply if the daily balance falls below $1,000 during a quarter. A per item fee of $10 will be charged for each debit transaction (withdrawal, automatic transfer or payment out of this account) in excess of six during a month.
This account offers a great start if you plan on saving with high interest rates and easy fund transfers.
General information:The Ultimate Account is a tiered savings account. You are required to have a Personal Checking Account with a minimun opening deposit of $200.00 to open an Ultimate Account. Please refer to the "Ultimate Account Disclosure" available at the earlier of your request.
Rate information: Your interest rate and Annual Percentage Yield (APY) may change at the sole discretion of Far East National Bank.
Frequency of rate changes: We may change the interest
rate on your account at any time.
Compounding and crediting frequency: Interest
will be compounded every day and 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: $2,500
Minimum balance to avoid imposition of fees: A monthly maintenance fee of $10 will be imposed every statement cycle if the balance
falls below $2,500 on any day of the cycle.
Daily balance computation method: FENB uses 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 non-cash deposits: Interest
begins to accrue no later than the business day FENB receives credit
for the deposit of non-cash items (for example, checks.)
Transaction limitations: Transfers from an Ultimate Account to another account or to third parties by pre-authorized, automatic, or telephone transfer are limited to six per month with no transfers by check, draft, debit card, or similar order to third parties. If you exceed the stated transaction limitations, regulations require that your account be closed.
Fees: A per item fee of $10 will be charged for each debit transaction (withdrawal, automatic transfer or payment out of this account) in excess of six during a month. An excess withdrawal fee of $1.50 will be charged for each withdrawal in excess of three during a month. This fee will apply if the daily balance falls below $2,500 during a month.
With the benefits of high interest rates and check writing, the Super Money Market Account offers a great way to save for planned and unexpected needs.
Rate information: Your interest rate and Annual Percentage Yield may change from time to time.
Frequency of rate changes: We may change the interest
rate on your account at any time.
Compounding and crediting frequency: Interest
will be compounded every day and will be credited to your account on
every statement cycle.
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: $2,500.00
Minimum balance to avoid imposition of fees: An
account maintenance fee of $10.00 will be imposed every statement cycle
if the balance falls below $2,500.00 on any day of the cycle.
Daily balance computation method: FENB
uses 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 non-cash deposits: Interest
begins to accrue no later than the business day FENB receives credit
for the deposit of non-cash items (for example, checks.)
Transaction limitations: Transfers from a Personal
Super Money Market account to another account or to third parties by
preauthorized, automatic, telephone, or computer transfer are limited
to six per monthly statement cycle with no more than three by check
or similar order to third parties. If you exceed the stated transaction
limitations, regulations require that your account be closed or converted
to a checking account.
Fees: A per item fee of $10.00 will be charged
for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account) in excess of above limitations.
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