First Federal Savings Bank of Frankfort
First Federal's Passbook Account offers a low opening balance
and easy access to your funds. It's great for savers just starting out or for those
who are unsure when they might need their funds.
Truth in Savings Account Disclosure
Deposits are insured by the FDIC up to applicable limits
Rates are subject to change
Disclosure of Interest and Charges
Minimum Balance Requirements
- You must deposit $100 to open this account (unless you are under age 18,
in which case you must deposit $10 to open this account).
- You may make only 6 transfers/withdrawals per statement cycle (not including those
made in person, by mail, by telephone with check mailed to you, by messenger,
or to repay loans to us).
- We have the right to require 7 days prior written notice from you of your
intent to withdraw any funds from your account.
- See previous page for current rate.
- Your interest rate and annual percentage yield may change.
- At our discretion, we may change the rate on your account
Frequency of Rate Change
- We may change the rate for your account every week
Compounding and Crediting
- Interest will be compounded on a daily basis.
- Interest will be credited to your account on a quarterly basis.
- Interest begins to accrue on the business day you deposit noncash items (for
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.
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