Tier | Minimum Opening Deposit | Interest Rate | APY |
---|---|---|---|
$0 - $49,999.99 6.00% Under Prime |
$5,000.00 | 0.25% (Minimum Interest Rate and APY = 0.10%) |
0.25% (Maximum Interest Rate and APY = 0.25%) |
$50,000-$99,999.99 4.00% Under Prime |
$5,000.00 | 2.25% (Minimum Interest Rate and APY = 0.10%) |
2.27% (Maximum Interest Rate = 2.25% and APY = 2.27%) |
$100,000-$499,999.99 3.50% Under Prime |
$5,000.00 | 3.00% (Minimum Interest Rate and APY = 0.25%) |
3.04% (Maximum Interest Rate 3.00% and APY = 3.04%) |
$500,000-$2,499,999.99 |
$5,000.00 | 3.75% (Minimum Interest Rate and APY = 0.25%) |
3.81% (Maximum Interest Rate 3.75% and APY = 3.81%) |
$2,500,000-$9,999,999.99 |
$5,000.00 | 4.00% (Minimum Interest Rate and APY = 0.25%) |
4.07% (Maximum Interest Rate 4.00% and APY = 4.07%) |
$10,000,000 |
$5,000.00 | 4.25% (Minimum Interest Rate and APY = 0.25%) |
4.33% (Maximum Interest Rate 4.25% and APY = 4.33%) |
The average daily balance method is used to calculate the interest on your account. This method applies a periodic rate to the average daily balance in the account for this period.
Interest on non-cash deposits begins to accrue on the business day of deposit—for example, checks.
The interest rate and annual percentage yield may change at Pioneer Bank’s discretion as often as daily. Rates may change after account is opened.
Fees, penalties, service charges and withdrawal of earned interest may reduce earnings.
Accounts closed between statement cycles will not receive accrued interest.