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MNB offers a choice of savings
plans, including a special Minor's Savings Account
designed for children of customers that want their
youngsters to learn good saving habits.
Regular Savings Account
| Rate information: |
Your interest rate and annual percentage yield may change. |
| Frequency of rate changes: |
We may change the interest rate 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 and credited to your
account monthly. |
| Minimum
balance to open the account: |
You must
deposit $250.00 to open this
account. |
| Minimum balance to avoid imposition of fees: |
A service
charge fee of $3.50 will be imposed
every month if the balance falls below $250.00 any day during the monthly statement cycle. |
| Average daily balance computation method: |
We use the average daily balance computation
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 monthly statement
cycle. |
| Accrual
of interest on noncash deposits: |
Interest begins to accrue no later than the business day you deposit noncash items (for example, checks). |
| Transaction
limitations: |
Transfers and withdrawals from a Regular Savings account
to another account or to a third
party by preauthorized, automatic,
computer or telephone transfer, or by check, draft, debit card or similar order, are limited to
six per monthly statement cycle. Transactions in excess of six during the monthly statement cycle will be returned, reversed or other wise prohibited from occurence. |
| Fees: |
A per item fee of $10.00 will be charged for each returned debit in excess of six during the monthly statement cycle.. Other fees may apply - see Consumer Fee Schedule. |
Minor Savings Account (17 and under) - Established Account Required
| Rate information: |
Your interest rate and annual percentage yield may change. |
| Frequency of rate change: |
We may change the interest rate 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 and credited to your
account monthly. |
| Minimum
balance to open the account: |
No minimum opening balance required. |
| Minimum balance to avoid imposition of fees: |
No minimum average daily balance is required. |
| Average daily balance computation method: |
We use the average daily balance computation
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 monthly statement
cycle. |
| Accrual
of interest on noncash deposits: |
Interest begins to accrue no later than the business day you deposit noncash items (for example, checks). |
| Transaction
limitations: |
Transfers and withdrawals
from a Minor Savings account
to another account or to a third
party by preauthorized, automatic,
computer or telephone transfer, or by check, draft, debit card or similar order, are limited to
six per monthly statement cycle. Transactions in excess of six during the monthly statement cycle will be returned, reversed or other wise prohibited from occurence. |
| Fees: |
A per
item fee of $10.00 will be charged
for each returned debit in excess of six
during the monthly statement cycle. Other fees may apply - see Consumer Fee Schedule. |
Century II Savings Account
| Rate
information: |
Your
interest rate and annual percentage
yield may change. |
| Frequency
of rate change: |
We may
change the interest rate 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 and credited to your
account monthly. |
| Minimum
balance to open the account: |
You must
deposit $50,000.00 to open this account. |
| Minimum
balance to avoid imposition of fees: |
A service
charge fee of $25.00 will be imposed every month if the
balance in the account falls below $50,000.00 any day during the monthly statement cycle. |
| Minimum
balance to obtain the annual percentage yield disclosed: |
No minimum balance required to obtain the annual percentage yield disclosed. |
| Average daily balance computation method: |
We use the average daily balance computation
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 monthly statement
cycle. |
| Accrual
of interest on noncash deposits: |
Interest begins to accrue no later than the business day you deposit noncash items (for example, checks). |
| Transaction
limitations: |
Transfers and withdrawals
from a Century II Savings account
to another account or to a third
party by preauthorized, automatic,
computer or telephone transfer. or by check, draft or debit card or similar order, are limited to
six per monthly statement cycle. Transactions in excess of six during the monthly statement cycle will be returned, reversed or otherwise prohibited from occurence. |
| Fees: |
A per
item fee of $10.00 will be charged for
each returned debit in excess of six during the monthly
statement cycle. Other Fees may apply - see Consumer Fee Schedule. |
Time
Deposits
MNB also offers the following Time
Deposit services.
- Certificate of Deposit (CD)
- Individual Retirement Account
(IRA)
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