* For CDs, the APY assumes monthly compounding of interest and that funds will remain on deposit until maturity.
Annual Percentage Yield (APY) is accurate as of the above effective date and applies to US Citizens and Resident Aliens depositing new funds into consumer accounts only. Website rates are generally updated each week. APY may be changed at any time without prior notice.
A penalty will be imposed for early withdrawal of principal with the exception of the No-Penalty CD product (see product disclosure for further details). Fees may reduce earnings. APY assumes interest earned is kept in the CD for the full term.
For No-Penalty CD products - Early withdrawal of funds without penalty is permitted up to two times. The third withdrawal request will result in the closure of the account. You may not withdraw the principal amount of a No-Penalty CD for the first six (6) days following the date on which the account was funded or within six days of the most recent partial withdrawal. $5,000 minimum balance to earn stated APY for No-Penalty CD. We reserve the right to treat any withdrawal which would reduce the balance remaining in the account below the required minimum balance of $5,000 as a close-out of the account. Funds currently on deposit with M.Y. Safra Bank do not qualify for the No-Penalty CD products.
**For MYSB Direct Money Market Accounts, APY — Annual Percentage Yield is accurate as of the above effective date. Interest Rates for the Money Market account are variable and may change at any time without prior notice. Fees may reduce earnings. You must maintain a minimum average daily balance of $5,000.00 in the account to obtain the disclosed annual percentage yield. The average daily balance that falls below $5,000 are applicable to a $10 monthly fee. Enforcement of a limit on the number of transactions per month is suspended until further notice. Funds currently on deposit with M.Y. Safra Bank do not qualify for the MYSB Direct Money Market Accounts.
***Balances between $0.00 and $25,000 earn 2.75% APY. Balances between $25,000.01 and $50,000 earn 2.75% to 2.38% APY. Balances above $50,000.01 earn 2.38% to 1.00% APY only on that portion of your balance which will result in a blended rate. Rates and terms are subject to change. Your APY will vary based on your account balance. The interest on your account is compounded and credited monthly provided that you have a monthly direct deposit of at least $500.00. If you do not have direct deposit after three statement cycles, your account will not earn interest. We use the daily collected balance to calculate the interest on your account. This method applies a daily periodic rate to the collected balance principal in the account each day. Customers receiving a paper statement will be charged a $3.00 monthly fee. All ATM fees charged by other banks are rebated on this account. This account is available to natural persons for personal, household, and family purposes, and is applicable only to new funds not presently deposited with M. Y. Safra Bank.
+ National Average obtained from https://www.bankrate.com/cd.aspx.