Truth In Savings Disclosure

TISA Disclosure for DD Product 104 – DIRECT INTEREST CHECKING

The interest rate and annual percentage yield stated below are accurate as 03/16/2020. If you would like more current rate and yield information, please call us at (864) 364-6130.

This disclosure contains the rules which govern your deposit account. Unless it would be inconsistent to do so, words and phrases used in this disclosure should be construed so that the singular includes the plural and the plural includes the singular.

Variable Rate – The interest rate is a variable rate. Your interest rate and annual percentage may change.

Determination of Rate – The interest rate and annual percentage yield for your account are listed below.
NOTE: In this disclosure, Annual Percentage Yield is abbreviated as “APY”.

Interest Rate: .0500% APY: .05%

Frequency of Rate Change – We may change the interest rate on your account at any time at our discretion.

Minimum Balance Requirements:
You must deposit a minimum of $50.00 to open the account.
No minimum balance required.
No monthly service charge.

To Obtain the Annual Percentage Yield Disclosed – You must maintain a minimum balance of $.01 in the account each day to obtain the disclosed annual percentage yield.

Compounding and Crediting Frequency – Interest will be compounded daily. Interest will be credited monthly.
Effect of Closing an Account – If you close your account before interest is credited, you will receive the accrued interest.

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 Noncash Deposits – Interest begins to accrue on the same business day you deposit noncash items (for example, checks).