Real Saver
Need a way to easily save more of your money? Look no further than Real Saver.
With Real Saver your interest earnings and nationwide ATM fee refunds** from Reward Checking are automatically deposited into your Real Saver savings account each monthly qualification cycle that qualifications are met where it earns interest again.
Now saving more is really easy!
- Summary
- 1.50% APY* on balances up to $50,000 when qualifications are met
- 1.01% APY* on balances over $50,000 when qualifications are met
- 0.25% APY* on all balances when qualifications are not met
- $200 minimum deposit to open
- Maintain a $200 minimum balance to waive the $3.00 monthly service fee
- Linked to Reward Checking
- Interest earned and ATM fee refunds from Reward Checking account are automatically deposited to Real Saver
- Free online banking
- Free online e-statements
- FDIC insured
Qualifications
By qualifying for the premium Reward Checking earnings, you automatically qualify for Real Saver. You get both by simply doing the following each monthly qualification cycle:
- Have at least 10 debit card purchases post and clear
- Receive e-statements online
- Have at least one direct deposit, automatic payment, or bill pay transaction post and clear during the monthly qualification cycle
If you don't qualify, don't worry. Real Saver is still a savings account earning the competitive 0.25% APY. Best of all, you can earn the premium rewards the very next cycle.
*Minimum to open Real Saver account is $200. Minimum to open Reward Checking account is $100. Annual Percentage Yield (APY) accurate as of 04/01/2011. The advertised Reward Checking APY is based on compounding interest. The interest earned in Reward Checking is automatically transferred to Real Saver each statement cycle and does not compound. The actual interest paid may be less than the advertised APY. The Real Saver APYs may be less than the Reward Checking APYs. Real Saver rate tiers are as follows: 1.50% APY applies to balances of $0.01 - $50,000 and 1.01% APY applies to balances over $50,000 if qualifications are met during monthly qualification cycle on Reward Checking. 0.25% APY applies to all balances if qualifications are not met on Reward Checking. All balances will earn 1.50% APY – 1.01% APY if qualifications are met on Reward Checking. Qualifying transactions must post and clear on Reward Checking account within the monthly qualification cycle. Transactions may take one or more banking days from transaction date to post to an account. Intra-bank transfers do not count as qualifying transactions. Rates may change after account is opened. Fees may reduce earnings. Available to personal accounts only. **ATM Fee refunds (Reward Checking account only) up to $20 provided only if qualifications are met within monthly qualification cycle.
Transaction Limitations:
Transfers from a Real Saver Savings account to another account or to third parties by preauthorized, automatic, internet access, or telephone transfers and transfers by check, draft, debit card or similar order to third parties are limited to six per month. A per transaction fee of $10 will be charged for each transaction in excess of six during a monthly statement cycle.
Fees:
A withdrawal fee of $2.00 will be charged for each withdrawal in excess of three during a monthly statement cycle. A per transaction fee of $10.00 will be charged for each transaction in excess of six, as referenced in the Transaction Limitations section, during a monthly statement cycle. Real Saver has a service charge fee of $3.00 imposed every monthly statement cycle if the balance in the account falls below $200.00 any day of the monthly statement cycle.
Notice of Tier and Rate Change for Real Saver Savings Effective March 1, 2012:
In response to the current rate environment, effective March 1, 2012, East Carolina Bank will be making the following changes to Real Saver Savings.
• 1.01% APY* on qualifying balances up to $25,000.00
• 0.50% APY* on qualifying balances over $25,000.00
• 0.05% APY* on all balances when qualifications are not met
East Carolina Bank remains committed to paying competitive interest rates. This account will remain a free checking account and it still includes nationwide ATM fee refunds**, free online banking, free eStatements, no monthly fees, and no minimum balance requirements. Be sure to check out our Real Savers savings account designed to help you save a little more each month.
