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Passbook
Savings Accounts
* A variable
interest earning account. The average daily balance
method is used to calculate the interest on this account,
and is compounded semiannually.
* Account
interest rate and annual percentage yield may change on your
account at any time, at Powell Valley National Bank's
discretion.
* Transfers
from a Passbook Savings Account to another account or to
third parties by preauthorized, automatic, internet, or
telephone transfer are limited to six per month with no
transfers by check, draft, or similar order to third
parties.
Statement
Savings Accounts
* A variable
interest earning account. The average daily balance
method is used to calculate the interest on this account,
and is compounded semiannually.
* Account
interest rate and annual percentage yield may change on your
account at any time, at Powell Valley National Bank's
discretion.
* Transfers
from a Statement Savings Account to another account or to
third parties by preauthorized, automatic, internet, or
telephone transfer are limited to six per month with no
transfers by check, draft, or similar order to third
parties.
Christmas
Club Accounts
* Minimum
deposit of $1.00 to open this account.
* If any
withdrawal is made from this account before club's end then
this account may be closed.
* If customer
makes 50 weekly deposits of the same amount to this account,
then we will make the 51st deposit of that amount for the
customer.
Money
Market Transaction Accounts
* Minimum
deposit of $2,500 to open this account.
* A variable
interest earning account. The average daily balance
method is used to calculate the interest on this account,
and is compounded monthly.
* Account
interest rate and annual percentage yield may change on your
account at any time, at Powell Valley National Bank's
discretion.
* If account
average daily balance falls below $1,000 during the monthly
statement cycle, no interest will be paid for that month and
a service fee will be charged.
* Transfers
from a Money Market Account to another account or third
parties by preauthorized, automatic, internet, or telephone
transfer are limited to six per statement cycle with no more
than three by check, draft, or similar order to third
parties.
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