flower
Savings Account
REGULAR CHECKING

Minimum balance to open the account
You must deposit $50.00 to open this account.

Minimum balance to avoid imposition of fees
A service charge 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.

FLAT FEE CHECKING

Minimum balance to open the account
You must deposit $50.00 to open this account.

Fee:
A service charge of $3.00 will be charged each statement cycle. A per debit fee of $.40 will be charged for each transaction ( withdrawal, check paid, automatic transfer or payment out of this account) in excess of ten during this account.

FRIENDS FOR LIFE CHECKING

For people over the age of 50

Minimum balance to open the account -
You must deposit $200.00 to open this account.

Minimum balance to avoid imposition of fees
A service charge fee of $5.00 will be imposed every statement cycle if the balance in the account falls below $200.00 any day of the cycle. First box of checks free

SENIOR CITIZEN CHECKING

For people 65 or older

Minimum balance to open the account
You must deposit $200.00 to open this account.

No Monthly Maintenance Fees

COLLEGE STUDENT CHECKING

Must provide proof of college enrollment

Minimum balance to open the account
You must deposit $50.00 to open this account.

No Monthly Maintenance Fees

MINOR CHECKING

Must be under the age of 18
Account must have an adult

Minimum balance to open the account
You must deposit $50.00 to open this account.

No Monthly Maintenance Fees

MONEY MARKET ACCOUNT
  • Rate Information - 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.
  • Determination of rate - At our discretion, we may change the interest rate on your account.
  • Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account monthly.
  • Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.
  • Minimum balance to open the account - You must deposit $2,500.00 to open this account.
  • Minimum balance to avoid imposition of fees - A service charge of $15.00 will be imposed every statement cycle if the balance in the account falls below $2,500.00 any day of the cycle.
  • Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $2,500.00 in the account each day to obtain the disclosed annual percentage yield.
  • Daily balance computation method - We use 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.
  • Accrual of interest on deposits - Interest begins to accrue on the business day you deposit non-cash items (for example, checks ).
  • Transaction limitations: Transfers from a Money Market Deposit account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per statement cycle with no more than three by check draft, debit card, or similar order to third parties.
  • Fees: A per debit fee of $15.00 will be charged for each transaction in excess of the above limitations.
NOW ACCOUNT**
  • Rate information - 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.
  • Determination of rate - At our discretion, we may change the interest rate on your account.
  • Compounding and crediting frequency - Interest will be compounded monthly. Interest will be credited to your account monthly.
  • Effect of closing an account - if you close your account before interest is credited, you will not receive the accrued interest.
  • Minimum balance to open an account - You must deposit $1,000.00 to open this account.
  • Minimum balance to avoid imposition of fees - A service charge of $15.00 will be imposed every statement cycle if the balance in the account falls below $1,000.00 any day of the cycle.
  • Minimum balance to obtain the annual percentage yield disclosed – You must maintain a minimum balance of $1,000.00 in the account each day to obtain the disclosed percentage yield.
  • Daily balance computation method – We use 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.
  • Accrual of interest on non-cash deposits – Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
  • Fees: A per debit fee of $.25 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account). This fee will not apply if you maintain the $1,000.00 balance.
SUPER NOW ACCOUNT**
  • Rate information – Your interest rate and annual percentage yield may charge.
  • Frequency of rate changes- We may change the interest rate on your account at anytime.
  • Determination of rate – At our discretion, we may change the interest rate on your account.
  • Compounding and crediting frequency – Interest will be compounded every month. Interest will be credited to your account every month. Effect of closing an account – if you close your account before interest is credited, you will not receive the accrued interest.
  • Minimum balance to open the account – You must deposit $2,500.00 to open this account.
  • Minimum balance to avoid imposition of fees – A service charge fee of $15.00 will be imposed every statement cycle if the balance in the account falls below $2,500.00 any day of the cycle. A periodic maintenance fee of $5.00 will be charged each month regardless of the account balance.
  • Minimum balance to obtain the annual percentage yield disclosed – You must maintain a minimum balance of $2,500.00 in the account each day to obtain the disclosed balance.
  • Daily balance computation method – We use 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.
  • Accrual of interest on non-cash deposits – Interest begins to accrue on the business day you deposit non-cash items (example, check).
  • Fees: A per debit fee of $.25 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account).

**Who can have NOW or SUPERNOW accounts:
1. Individuals
2. Sole Proprietorships
3. Non-Profit Organizations-even if it is a corporation
4. Government Units

**Who cannot have NOW or SUPERNOW accounts:
1. Partnerships
2. Credit Unions and other mutual depository institutions
3. Mutual Insurance companies
4. Crop Financing organizations
5. Organizations created to function as part of a qualified group legal service plan
6. Farmers' cooperatives
7. Any organizations operated for profit


Bank of Magnolia - Magnolia, OH, 330-866-9392, Member FDIC, Equal Housing Lender
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