Passbook Savings Account
You must deposit a minimum of $25.00 to open this account. Interest will be compounded every day and credited to your account every quarter.
Regular Checking Account
A service charge fee of $4.00 will be imposed every statement cycle if the balance in the account falls below $300.00 any day of the cycle.
Interest Bearing Checking Account
Interest will be compounded every day and credited to your account every month. A service fee of $5.00 will be imposed every statement cycle if the balance in the account falls below $500.00 any day of the cycle.
Money Market Deposit Account
You must deposit a minimum of $2,500.00 to open this account.
Limitations on frequency of transfers - During any monthly statement cycle, you may not make more than six(6) withdrawals or transfers to another account of yours or to a third party by means of check, draft, debit card, automatic transfer, internet banking, preauthorized transfer, telephone order, or similar order payable to a third party.
Additional Terms - The following additional terms apply to this account: A service fee of $1.00 will be charged for each withdrawal in excess of six (6) during a statement cycle. If this service fee is charged more than three (3) times within twelve (12) month period, in accordance with regulatory requirements, this account will have to either be closed or converted to a transaction account.
Certificates of Deposit
The Hamler State Bank has many options available for certificates of deposit with terms ranging from one month up to five years with initial investments as low as $500.00. All certificates carry penalties for early withdrawal.
|Term||Minimum Balance Required||Interest Rate||Annual Percentage Yield*|
*The Annual Percentage Yield is accurate as of July 1, 2017.
Individual Retirement Accounts
Individual retirement accounts offer a way to save for your retirement years and take advantage of favorable income tax benefits and they are insured by the FDIC up to $250,000.00.
Additional Information For the above accounts
Daily Balance Computation Method
The Hamler State Bank 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.
Your interest rate and annual percentage yield may change.
Frequency of Rate Changes
We may change the interest rate on your account at any time.
Accrual of Interest on Non-cash Deposits
Interest begins to accrue on the business day you deposit non-cash items.