RATE SHEET FOR OAKWOOD BANK
Rates may change after the account is opened.
| Account Type | Interest Rate | Annual Percentage Yield | Balance Tiers | Minimum Deposit to Open Account | Minimum Balance to Obtain Annual Percentage Yield |
|---|---|---|---|---|---|
| Personal or Business Interest Checking | 0.10 | 0.10 | $2500 & Up | $200 | $500 |
| 0.10 | 0.10 | $500 to $2499 | $500 | ||
| 0.05 | 0.05 | $0 to $499 | $.01 | ||
| Rewards Checking* See below for account details | 3.05 | 3.09 | up to $30,000 | $200 | $0.01 |
| 0.20 | .21% to 3.09% | $30,000.01 & Up | $30,000.01 | ||
| Qualifications not met | 0.10 | 0.10 | $0 & Up | $0.01 | |
| Money Market | 1.50 | 1.51 | $25,000 & Up | $200 | $25,000 |
| 0.75 | 0.75 | $10,000 to $24,999 | $10,000 | ||
| 0.50 | 0.50 | $0 to $9,999 | $0.01 | ||
| Passbook Savings | 0.20 | 0.20 | $50 | $0.01 | |
| IRA Savings | 0.60 | 0.60 | $50 | $0.01 | |
| HSA Savings | 0.60 | 0.60 | $50 | $0.01 | |
| Certificate of Deposits | All CDs are IRA Available | ||||
| TERM | Interest Rate | Annual Percentage Yield | Balance Tiers | Minimum Deposit to Open Account | Minimum Balance to Obtain Annual Percentage Yield |
| 6 month CD | 1.00 | 1.00 | $100 | $100 | $100 |
| 11 month CD Special | 5.25 | 5.36 | $5,000 | $5,000 | $5,000 |
| 1 Year CD | 1.75 | 1.76 | $100 | $100 | $100 |
| 18 Month CD | 1.85 | 1.86 | $100 | $100 | $100 |
| 2 Year CD | 2.00 | 2.02 | $100 | $100 | $100 |
| 3 Year CD | 2.25 | 2.27 | $100 | $100 | $100 |
| 4 Year CD | 2.75 | 2.78 | $100 | $100 | $100 |
| 5 Year CD | 3.00 | 3.03 | $1,000 | $1,000 | $1,000 |
ADDITIONAL ACCOUNT DISCLOSURE INFORMATION IS PROVIDED IN THE ACCOUNT RULES/DISCLOSURES.
FOR CURRENT INTEREST RATE AND ANNUAL PERCENTAGE YIELD INFORMATION, CALL 1-715-983-2295
Effective Date: 03/01/2024
OAKWOOD BANK REWARD CHECKING:
Must meet all of the following three qualifications:
- 12 posted and settled debit card transactions each statement cycle – from the 11th day of the month to the 10th day of the following month
- Have at least one direct deposit or one ACH automatic withdrawal each statement cycle
- Enroll in our online banking platform within thirty (30) calendar days to receive electronic statements located on our website (www.oakwoodbank.net) after the 10th of every month.
Meet the above qualifications and receive the following services:
- No monthly service charges on Rewards Checking account
- Overdraft protection – Automatic transfers from another deposit account at Oakwood Bank should you overdraw your account
- Up to 5 free Cashier’s Checks per calendar month
- No fee for photocopies (10 pages or less per calendar month)
Failure to Meet all three above Qualifications:
Interest paid on the entire balance in the account will be .10% with an annual percentage yield of .10%. If online banking account is not established within thirty (30) calendar days of account opening, the account will be moved into our Interest Checking Account and a $5.00 per month statement fee will be assessed. In the Interest Checking account, you must keep a $500 average monthly balance, or a $7.00 monthly fee will be accessed.
All CD’s are IRA Available
INTEREST IS FIGURED ON A 365/366 DAY SIMPLE INTEREST BASIS AND IS COMPOUNDED QUARTERLY FOR CD’S & MONTHLY FOR CHECKING ACCOUNTS, IRA SAVINGS, HSA SAVINGS AND SEMI-ANNUALLY FOR REGULAR SAVINGS ACCOUNTS. RATES ARE SUBJECT TO CHANGE WITHOUT NOTICE. THE ANNUAL PERCENTAGE YIELDS SHOWN ABOVE ASSUMES REINVESTMENT OF PRINCIPAL AND INTEREST FOR THE ENTIRE TERM. FEES COULD REDUCE EARNINGS ON THE ABOVE ACCOUNTS. SUBSTANTIAL PENALTY FOR EARLY WITHDRAWAL ON CD’S. ADDITIONAL ACCOUNT DISCLOSURE INFORMATION IS PROVIDED IN THE ACCOUNT RULES/DISCLOSURES.
FOR CURRENT INTEREST RATE AND ANNUAL PERCENTAGE YIELD INFORMATION, CALL 1-715-983-2295.