Sierra Reward Savings
Supercharge your savings and earn twice. Sierra Reward Savings piles an additional 2.09% APY* on top of the interest paid on your associated Sierra Reward Checking account and nationwide ATM fee refunds in this free account! It's like having a built in savings tool because the interest paid and ATM fee refunds are automatically transferred from your Sierra Reward Checking to your Sierra Reward Savings account. Plus, you can hang on to all of your earnings with no minimum balance and no monthly service fee. This is one high-powered account!
- Features
- 2.09% APY¹* on balances up to $25,000
- 0.50% APY¹* on portion of balances above $25,000
- 0.12% APY* on balance any month you do not qualify
- Build savings with no out-of-pocket expense
- Nationwide ATM fee refunds (up to $25 each qualification period)
- No minimum deposit required to open account
- No monthly service charge
- No minimum balance
- Linked to Sierra Reward Checking
- Unlimited deposits
- Free online banking
- Free Sierra eStatements
- FDIC insured
Bank of the Sierra Savings Accounts are limited to nine (9) savings withdrawals per quarter with no charge, beginning with the tenth (10th) savings withdrawal a charge of $2.00 will be assessed on each savings withdrawal thereafter. Charges will be assessed quarterly.
Transaction Limitations: You may make six (6) transfers from your account each four week or similar period, if by preauthorized or automatic transfer, or by telephone (including data transmissions) agreement, order or instruction, or by check, draft, debit card or similar order (including Point of Sale [POS] transactions, made by the depositor and payable to third parties. Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.
Variable Rate Account. Rates may change after the account is opened. Fees could affect account earnings.
*APY = Annual Percentage Yield (APY) accurate as of March 8, 2010. Rate tiers are as follows: 2.09% applies to balances of $.01 - $25,000 and 0.50% paid on balances over $25,000 as long as qualifications are met each qualification period. 0.12% will be earned on all balances if qualifications are not met.
¹ When you meet the minimum qualifications for the qualification period on your associated Sierra Reward Checking account.
² Statement period ends the first Thursday of every month with the qualifying period ending the business day prior, meaning that the qualifying number of days will vary from month to month
- Qualifications
- Minimum 12 Sierra Check Card purchases per statement cycleMinimum 12 Sierra Check Card purchases per statement cycle² (Purchases must be posted, not pending -- excludes ATM transactions)
- Minimum one direct deposit or automatic payment from your account per statement cycleMinimum one direct deposit or automatic payment from your account per statement cycle² (must be posted, not pending)
- Make at least one payment using Sierra BillPay per statement cycleMake at least one payment using Sierra BillPay per statement cycle² (must be posted, not pending)
- Enroll & receive Sierra eStatements
- Must be opened online
² Statement period ends the first Thursday of every month with the qualifying period ending the business day prior, meaning that the qualifying number of days will vary from month to month
*Annual Percentage Yield (APY) accurate as of March 8, 2010. Rate tiers are as follows: 2.09% applies to balances of $.01 - $25,000 and 0.50% paid on balances over $25,000 as long as qualifications are met each statement cycle. 0.12% will be earned on all balances if qualifications are not met. All balances will earn 0.50 - 2.09% as long as qualifications are met. Rates may change after the account is opened.
New accounts funded by credit card transactions will be treated as a cash advance and your credit card issuer may impose a cash advance fee. Please contact your credit card issuer if you have a concern regarding a cash advance fee.
