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 N.O.W.
Accounts
Rate Information
- Current interest rates and annual
percentage yields are posted in Massena Savings & Loan lobby
and are also available by calling 315-764-0541, as well as online
by following the links above.
- This is a Variable Rate account which means the interest rate
and the annual percentage yield may change the first day of each
month after an analysis of current market rates by Massena Savings
& Loan. (Note: Commercial Accounts do not have tiers and
do not earn interest.)
Compounding and Crediting
- Interest for the account will be compounded and credited on a Month Basis
and available the 16th business day of the month.
- Accrued interest will be paid to date if the account is closed before
the month.
Minimum Balance Requirement
- You must deposit $0.01 to open this account.
- You must maintain a minimum ledger balance of $0.01 to obtain
the disclosed annual percentage yield.
Balance Computation Method
- We use the Daily Balance Method (Day of Deposit to Day of Withdrawal)
to calculate interest on your account. This method applies a daily periodic
rate to the principle in the account each day.
When Interest Begins to Accrue
- Interest begins to accrue on the business day you make a deposit with
cash or non-cash items (for example, checks).
Fees
- A deposited check that has been returned unpaid may be assessed a fee
of $20.00 against your account.
Transaction Limitations
- Government regulations mandate us to reserve the right to require 7 days
written notice prior to withdrawal.
- There are no transaction limits on these accounts.
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