What is the Interest Rate for my Savings Account?

Truth in Savings


The interest rate on your Savings Account is 0.25% APY*.


We use the daily balance method to calculate interest on your account. This method applies a periodic rate to the daily balance in the account for the period. The daily balance is calculated by adding the principle in the account for each day of the period and dividing that figure by the number of days in the period.


There is no limit (monthly or otherwise) on the number of transfers from savings initiated by phone, online or in the mobile app. This limit is subject to change at any time pursuant to Federal Reserve Bank (FRB) regulations.

 

*The Annual Percentage Yield (APY) for savings accounts through Greenwood is variable and is subject to change at any time.  The disclosed APY is effective as of December 1, 2021.  An account must have $0.01 in savings to earn interest.

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