|Account Attribute||Rewards Checking||Interest Checking||Regular Checking||Student Rewards Checking**|
|Interest Type||Variable||Tiered||No interest earned||No interest earned|
|Frequency of Rate Change||May Change Monthly||May Change Monthly||No interest earned||No interest earned|
|Interest Rates||Review Rates||Review Rates||No interest earned||No interest earned|
|Annual Percentage Yield (APY)||Review Rates||Review Rates||No interest earned||No interest earned|
|Interest Compounding & Crediting||Monthly||Monthly||No interest earned||No interest earned|
|Minimum Balance To Open||$20,000||$1,000||$100||$50|
|Balance for Interest||$20,000 in account each day to obtain the disclosed APY. No minimum balance to earn interest.||No minimum||No interest earned||No interest earned|
|Interest Calculation Method||Daily Balance Method||Daily Balance Method||No interest earned||No interest earned|
|Maintenance Fee||$20 if below $20,000||$7.50 if below $1,000||You will not be charged a fee unless you elect to have check images sent with statement $3.00/month||Limitations*|
Rate information on Rewards and Interest Checking
The annual percentage yield is a percentage rate that reflects the total amount of interest to be paid on account based on the interest rate and frequency of compounding for an annual period. The interest rates and annual percentage yields are the rates and yield as of the last interest declaration date. The interest rate, annual percentage yield, and frequency of rate changes are listed in the Rate Schedule. The interest rate and annual percentage yield may change at our discretion.
Interest compounding and crediting
We compound interest monthly and credit interest monthly on accounts that earn interest (at the end of each statement cycle).
Balance for interest
We use the daily balance method to calculate the interest on interest bearing accounts as shown on the Rate Schedule. You must maintain the minimum balances required in the Rate Schedule each day to obtain the disclosed annual percentage yield.
Accrual of Interest on Non-Cash Deposits
Interest begins to accrue (only on interest bearing accounts) no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
All accounts have a minimum balance for opening. The minimum balance requirements applicable to each account are stated in the Rate Schedule. If the minimum daily balance is not met during each day of the statement cycle, there will be a service fee as stated in the Rate Schedule. For Rewards Checking and Interest Checking, there is a minimum daily balance required to earn the annual percentage yield disclosed for the interest period. If the minimum daily balance is not met each day of the statement cycle, you will not earn the stated annual percentage yield. For accounts using the daily balance method as stated in the Rate Schedule, interest is calculated by applying the daily periodic rate to the balance in the account each day.
If the low collected balance during any one day in a statement cycle falls below the minimum as stated in the Rate Schedule you will be charged the fee listed in the Rate Schedule for that cycle. Fees may reduce earnings.
Effect of Closing an Account
If you close any account within 90 days of opening date, you will be charged a fee of $25.00. To close any account that has been open over 90 days, you will be charged a fee of $5.00.
Student Rewards Checking
You must be 23 years old or younger to qualify for this account and be a three-quarter time to full-time student. Bank policy states a parent or guardian will be a joint account holder with any person under the age of 18. This account will automatically be converted to a regular checking account on your 24th birthday. This account requires enrollment in our FNBML Online Banking.
**Incentives for Student Rewards Checking
Free first order of standard bank checks is offered with this account. Upon completion of the third proof of account reconcilements a $25.00 cash reward will be deposited into the account the next business day. After six months of favorable active use an increase in daily dollar limits will be considered subject to credit approval.
We do not print statements on accounts where there has been no activity.
Fees may reduce account earnings.