WASHINGTON TRUST
Truth in Savings Disclosure
HIGH-RATE SAVINGS
Special Terms - Account opening must be completed through the Washington Trust online account opening platform with funds from sources other than Washington Trust. Additionally, a Washington Trust checking account is required at time of account opening. Only one High-Rate Savings account per tax reported owner permitted. No municipal funds.
Frequency of rate changes - We may change the interest rate and annual percentage yield on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded monthly. Interest will be credited monthly.
Effect of closing an account - If you close your account before interest is credited; you will not receive the accrued interest.
Minimum balance to open the account - You must deposit $25.00 to open this account.
Daily 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 non-cash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
Transaction Limitations - There are no transactions allowed by check, draft, and debit card purchases.
Rate information
Tier 1 - If your daily balance is $25,000 or less, interest rate paid on the entire balance will be 2.9669% with an annual percentage yield of 3.00%.
Tier 2 - If your daily balance is $25,000.01 or greater, interest rate paid on the entire balance will be 2.9669% with an annual percentage yield of 3.00%.