Our Personal Savings account, at YNB Bank, is the perfect interest-bearing account for anyone trying to start saving money. Keep the flexibility of being able to perform a limited number of debit transactions each statement cycle while still earning interest on your balance. View the current interest rate here and take a look at all the benefits of a YNB Personal Savings account below.
*Fee is only assessed if the average daily balance requirement of $200.00 is not met. 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. The maintenance fee is waived for individuals under age 18, transaction fees will apply.
Your interest rate and annual percentage yield may change at any time. Interest will be compounded every quarter. Interest will be credited to your account every quarter. If you close your account before interest is credited, you will not receive the accrued interest. You do not have to maintain the minimum average daily balance in the account in order to obtain the disclosed annual percentage yield. 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. The period we use is the quarterly statement cycle. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (i.e., checks).