Dividend Rate Information. The Dividend Rate and Annual Percentage Yield, applicable for each balance tier, on your account are set forth in the Rate Schedule and Fee Schedule. The Annual Percentage Yield (APY) is a percentage rate reflecting the total amount of dividends paid on an account, based on the Dividend Rate and the frequency of compounding. The APY is calculated by assuming that the funds remain in the account untouched for a full year. A fee may lower the APY. End- of-Day balances will earn different daily Dividend Rates, depending on the applicable tier. The lower stated dividend rate will be paid on the portion of your daily balance that is less than $20,000. The higher stated rate will be paid on the portion of your daily balance that is equal to or greater than $20,000.
Appears in 3 contracts
Sources: Membership & Account Agreement, Membership & Account Agreement, Membership & Account Agreement