Preferred Rewards Checking
Security National Bank understands how to reward its customers, which is why we have introduced an account that pays you a high market rate of interest and gives you an attractive list of FREE services.
To qualify for Preferred Rewards Checking interest rate you are required to: Have a monthly++ direct deposit of at least $100*** 12 VISA debit card transactions per month++ Receive eStatements Sign-on to ebank at least once per month ++Maintain a valid email address with the bank Maintain a minimum daily balance of $2,500*
If the above requirements are met, you receive the following checking account benefits:
No monthly fee Visa Debit Card ($6.79 one-time initial card fee)FREE Online Banking with FREE Bill Pay No per check charge and unlimited check writingFREE eStatements0.65% APY for balances up to $25,000**0.11% APR for balances over $25,000 (no cap)**0.05% APY if all of the qualifications requirements listed above are not met**ATM Usage - SNB will automatically refund your account up to $12.00 per statement cycle for ATM surcharge and foreign fees (up to $6 in foreign fees and $6 in surcharge fees). Fees will be credited to the account by the end of each statement cycle.
* *Account requires minimum opening balance of $100. For personal accounts only. One account per household. For accounts that meet the above qualifications during the statement period an interest rate of 0.65% will be paid on the entire balance with an APY of 0.65% if your average daily balance is $25,000 or less. An interest rate of 0.11% will be paid only for that portion of your average daily balance that is greater than $25,000. The APY for this tier will range from 0.16% to 0.65% depending on the balance in the account. This range is calculated using a hypothetical average balance of $250,000. For accounts that do not meet these qualifications, 0.05% APY is paid on the entire average daily balance. Rate is effective 5/14/13. All features of this account are subject to change at the bank's discretion at any time. If you close your account before interest is credited, you will not receive the accrued interest.
++Monthly is defined as three processing days prior to statement cycle date. Requirements are considered complete when the transactions have posted to the account. Pending or unprocessed transaction not posted during the current statement cycle will be credited in the following statement cycle.
***If you don't have the ability to set up a recurring credit, it can be substituted with an automatic recurring debit.
Interest rates are paid using the average-daily-balance method. This method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. Interest is compounded daily and credited on the last day of your statement cycle. Non-cash items (e.g. checks) you deposit into your account begin to earn interest on the business day we receive credit. Your interest rate and annual percentage yield may change. Fees could reduce earnings on your account.
Tiers Interest Rate Annual Percentage Yield
0-$25,000 0.65% 0.65%
Over $25,000 0.11% Range from 0.16% to 0.65%
Non-Qualifying accounts 0.05% 0.05%
For information on account fees, see the current fee and information schedule or call us at 712-277-6500.
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