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Yield note 3

How to read a savings account disclosure

A short disclosure packet explains how a savings product really works: rate, compounding, minimums and fees.

Reading 1

Rate section

Look for APY, interest rate and compounding frequency.

Reading 2

Balance tiers

Some products pay different APYs at different balances.

Reading 3

Fees and limits

Monthly fees, paper statement fees and withdrawal limits belong in the same read.

Reading 4

Questions for the bank

Ask what happens to the APY if your balance drops below a tier.

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