Bay-Vanguard - Bankings : Truth in Savings

Truth in Savings (Regulation DD)

The following information is provided to make sure you have a complete understanding of the account you are opening or inquiring about. Please take note of the rate information and the Bank's Service Fee Schedule to see about additional account fees.

Direct Deposit Internet Checking

MINIMUM BALANCE REQUIREMENTS: to open the account: You must deposit $100 to open the account
BALANCE COMPUTATION METHOD: 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.

Internet Checking

to open the account: You must deposit $100 to open the account.
to avoid the imposition of fees: A minimum balance fee of $7 will be imposed every month if the average daily balance in the account falls below $500 during the month. 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 month.
to obtain the annual percentage yield disclosed: You must maintain a minimum average daily balance of $100 to obtain the disclosed annual percentage yield. 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.

BALANCE COMPUTATION METHOD: We use the average daily balance method to calculate interest on your account. 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.
ACCRUAL OF INTEREST ON NONCASH ITEMS: Interest begins to accrue on the business day you deposit noncash items(for example, checks).

Free Checking

MINIMUM BALANCE REQUIREMENTS: to open the account: You must deposit $100 to open the account.

Interest Checking

to open the account: You must deposit $100 to open the account.
to avoid the imposition of fees: A minimum balance fee of $7 will be imposed every month if the average daily balance in the account falls below $500 during the month. 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 month.
to obtain the annual percentage yield: You must maintain a minimum average daily balance of $100 to obtain the disclosed annual percentage yield. 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.

Money Market Deposit Account

VARIABLE RATE ACCOUNT: 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.
TIERING LEVELS AND THEIR APPLICABLE INTEREST
RATES: The interest rate to be paid on your account will depend on the average daily balance in your account. See the Rate Schedule to determine what interest rate will be paid depending on the average daily balance in your account. The separate "tiers" that have varying interest rates that apply are:

If the average daily balance in your account is less than $100, no interest will be paid on the entire balance in your account.
If the average daily balance in your account is $100 or more but less than $2,500, the entire balance in your account will earn the appropriate interest rate.
If the average daily balance in your account is $2,500 or more but less than $10,000, the entire balance in your account will earn the appropriate interest rate.
If the average daily balance in your account is $10,000 or more, the entire account balance will earn the appropriate interest rate.
If the average daily balance in your account is $40,000 or more, the entire account balance will earn the appropriate interest rate.

COMPOUNDING AND CREDITING: Interest will be compounded and credited to your account on a monthly basis
MINIMUM BALANCE REQUIREMENTS:

to open the account: You must deposit $2,500 to open the account
to avoid the imposition of fees: Refer to service charge summary provided to you to determine the fee and average daily balance needed to be maintained during the statement cycle 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.
to obtain the annual percentage yield disclosed:You must maintain a minimum average daily balance of $100 to obtain the disclosed annual percentage yield. 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.

Statement Savings Account

to open the account: You must deposit $50 to open the account.
to avoid the imposition of fees: A minimum balance fee of $2 will be imposed every month if the average daily balance in the account falls below $50 during the month. 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 month.
to obtain the annual percentage yield disclosed: You must maintain a minimum average daily balance of $50 to obtain the disclosed annual percentage yield. 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.

Certificate Of Deposit

FIXED RATE ACCOUNT: The interest rate on this account is
fixed. You will be paid this rate until the maturity date of the
certificate.
COMPOUNDING AND CREDITED: Interest will be compounded on a daily basis and may be credited to your account on a monthly basis.
MINIMUM BALANCE REQUIREMENTS:

to open the account: You must deposit $1000 to open
the account.
to obtain the annual percentage yield disclosed:
You must maintain a minimum balance of $1000 in the
account to obtain the disclosed annual percentage yield.

BALANCE COMPUTATION METHOD: We use the average daily balance method to calculate interest on your account. This method applies a periodic 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.
ACCRUAL OF INTEREST ON NONCASH DEPOSITS:
Interest begins to accrue on the business day you deposit noncash items (for example, checks).
TRANSACTION LIMITATIONS: You may not make deposits
into your account until the maturity date.
WHEN THE ACCOUNT WILL MATURE: See the Rate Chart
to determine the maturity date or term needed to obtain the annual percentage yield stated.
EARLY WITHDRAWAL PENALTY: We may impose a penalty if you withdraw any of the principal before the maturity date. The amount of the penalty is as follows:

Certificate Term	Withdrawal Penalty
Less that 1 year	3 months loss of interest
1 year and longer	6 months loss of interest

If you reduce the balance in the account below the minimum balance requirement, we may impose the penalty on the entire account balance and any funds left in the account will then receive the interest rate and annual percentage yield then being paid in regular savings accounts.
SPECIAL RETIREMENT ACCOUNT PROVISIONS: If the
funds deposited in a certificate account are to open a qualified
retirement account, no penalty will be imposed for any withdrawal that is made within 7 days of establishing the retirement account. In addition to any penalty that we may impose for other early withdrawals, under certain circumstances, there may be an additional IRS penalty. See your retirement account documents for details.
WITHDRAWAL OF INTEREST PRIOR TO MATURITY: The annual percentage yield disclosed in the rate section assumes interest will remain on deposit until maturity. Any withdrawals will reduce earnings.
RENEWAL OF ACCOUNT: Your account will automatically
renew at maturity. You will have 7 calendar days after the
maturity date to withdraw your funds without being charged a
penalty. Please refer to your Certificate of Deposit Renewal
section for more detailed information.

IRA Statement

VARIABLE RATE ACCOUNT: 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: Interest will be compounded on an daily basis and credited to your account on a quarterly basis.
MINIMUM BALANCE REQUIREMENTS:

to open the account: You must deposit $10 to open the account.
to avoid the imposition of fees: A service charge of $2 will be imposed every month if the average daily balance in the account falls below $10 during the statement cycle 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.
to obtain the annual percentage yield disclosed:
You must maintain a minimum average daily balance of $10 to obtain the disclosed annual percentage yield. 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.

BALANCE COMPUTATION METHOD: We use the average
daily balance method to calculate the interest on your
account. 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.
ACCRUAL OF INTEREST ON NONCASH DEPOSITS:
Interest begins to accrue on the business day you deposit noncash items (for example, checks).