Sierra Reward Savings

Earn twice on this high-powered account! Link your Sierra Reward Checking Account to Reward Savings and earn an additional APY* on top of the interest already paid on your checking. With automatic transfer from checking to savings, no minimum balance or monthly service fee, you can supercharge your savings with ease.

Rates

• 0.59% APY* on daily balances less than $25,001^{1, 2}
• 0.25% APY* on portion of daily balances greater than or equal to $25,001^{1, 2}
• 0.05% APY* on balance any month you do not qualify

FAQs

1. Can I open multiple Sierra Reward Savings accounts?

   Sierra Reward Savings accounts are limited to a maximum of two per household but must have a separate Sierra Reward Checking account.

2. Can I open a Sierra Reward Savings account over the phone or in a branch?

   No, you must apply online for this account.

3. How will I know how much interest I have been paid each month in my Sierra Reward Savings account?

   You can review your periodic statement, log into your online banking for a history of interest paid; and we will provide you with appropriate tax documents at the end of the year stating annual interest paid.

4. Do I get checks for my Reward Savings account?

   No, Sierra Reward Savings cannot be accessed by check.

5. Can I have multiple checking accounts that fuel my Sierra Reward Savings?

   No. You can only link one Sierra Reward Savings account per Sierra Reward Checking account.

6. Can I open a Sierra Reward Savings account without opening a Sierra Reward Checking account?

   No. You need a Sierra Reward Checking account to have a Sierra Reward Savings account
   because they work together. The high interest paid for the statement cycle on your Sierra Reward Checking account will be automatically transferred to your Sierra Reward Savings account the following business day after each statement cycle to help you save more and save often.

7. Is Sierra Reward Savings insured?

   Yes, your Sierra Reward Savings account is insured by FDIC.

8. Do I get a Sierra Debit Card for my Sierra Reward Savings account?

   You get a Sierra Debit Card for your Sierra Reward Checking account that you use to meet the qualification for your associated Sierra Reward Checking account. You can also use this card to access the money in your Sierra Reward Savings account at ATMs nationwide

9. What if I close my account?

   If you close your account before interest is credited, you will forfeit the interest.

10. How is the interest calculated?

    Daily Collected Balance Method. This method applies a daily periodic rate to the principal in the account each day. Interest on noncash deposits begins to accrue no later than the business day we receive credit for the deposit of the noncash items (for example, checks). Fees may reduce earnings.

11. Can I have one Sierra Reward Checking account that links to multiple Sierra Reward Savings accounts?

    No. Sierra Reward Checking can only link to one Sierra Reward Savings account.

12. How do I access my money in my Sierra Reward Savings account?

    Your Sierra Debit Card linked to your Sierra Reward Checking will also be linked to your Sierra Reward Savings account. You will be able to access your money at ATMs nationwide.

    Reward Savings also has free Online Banking and Bill Pay so you can access your account and pay your bills from anywhere you have an Internet connection. While online, you can view account activity, transfer funds between accounts and confirm deposit amounts. Transaction limitations will apply:

    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.

    If you exceed these limits 3 times within a 12-month rolling period, the bank will close your account. Bank of the Sierra Savings Accounts are limited to six (6) savings withdrawals per month. There will be a $2.00 charge for each withdrawal after the eighteenth (18) withdrawal per quarter. This will include any withdrawal transaction type. Fees will be assessed quarterly.

13. How do I check my Sierra Reward Savings account balance?

    Bank of the Sierra offers free Online Banking with 24-hour access to your account information.

    Sierra TeleBanking offers 24-hour account information at 888.307.3772

    ATMs nationwide.

Account Limits

1. Is there a minimum balance requirement in order to receive my rewards?

   There are no minimum balance requirements to receive rewards.