| |
| Additional Control of Your Funds |
For current sweep rates click here. |
Our Sweep Account will benefit our larger deposit customers who want to earn interest on their excess funds without having to conduct their own transfers.
Swept funds are not deposits and therefore are not insured by the FDIC. |
| Funds up to $75,000 |
50% of 90 Day Treasury Bill Discount Rate* |
| Funds up to $1,000,000 |
90 Day Treasury Bill Discount Rate* |
| Funds over $1,000,000 |
.125% over 90 Day Treasury Discount Rate* |
|
| *The rate will be effective every Thursday based on the most recent "Week Ended" rate published on the previous Tuesday under the "Money Rates" section of the Wall Street Journal. |
| Interest will be accrued daily on the funds in the Sweep Account at only one of the above rates, depending on the balance at any particular day. For example, if $75,000 is swept from your account, the rate paid on the entire $75,000 will be at the "Funds up to $75,000" rate. If $80,000 is swept, the rate paid on the entire $80,000 will be at the "Funds up to $1,000,000" rate. |
|
|
|
