2.02% Annual Percentage Yield FAQs
What are the eligibility requirements?
In order to be eligible for a 2.02% Annual Percentage Yield (APY), you have to have a Protected Goal Account, and your account must have a daily balance equal to or above $2,000. Dip below $2,000 and you'll earn 0.01% APY on your entire balance that day.
How long will I earn this rate?
Rates are effective as of 9/25/18. This rate is variable and is subject to change at any time.
How is the interest calculated?
Interest is calculated on a daily basis using a daily periodic rate. Simply stated, if your end of day Protected Goals Account balance is less than $2,000, you'll get a daily periodic rate for the 0.01% interest rate tier on your entire balance that day. If your end of day balance is $2,000 or more, you'll get a daily periodic rate for the 2.00% interest rate tier on your entire balance that day.
When is the interest credited?
Your daily interest calculations are added together and credited to your "Savings Goal" at the end of each month.
Does my Individual and/or Shared Account earn a 2.02% APY?
At this time, only individuals are eligible for Protected Goals Accounts and the 2.02% APY. Your Simple Checking Account and Shared Account will continue to earn 0.01% APY.
How can I learn more about a Protected Goals Account?
This support article dives into all you need to know about our Protected Goals Accounts.
Where can I learn more about this account?
You can learn more here.