Treasury Management Tiered Savings Account
Take advantage of Pioneer Bank’s Platinum Plus Savings account that works on the principle that more money gets you higher rates. This account also pays a higher interest rate and still allows you the flexibility to access your funds when you need them. Enjoy free Online Banking and eStatements and earn a better rate by reaching higher balance tiers.
- $5,000.00 minimum deposit to open
- Compounded and credited monthly
- $5.00 service charge if balance drops below $5,000.00 any day of the month
- Three free withdrawals per month; $1.00 fee per withdrawal thereafter
- Monthly statements
- Free Telephone Banking
Visit a Pioneer Bank branch to open a Platinum Plus Savings Account.
The interest rate will change on the first day of any month following a change in the Wall Street Journal Prime rate. The balance tier is determined by the average available balance for the periodic statement cycle.
| 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%) |
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Checking and Savings Features
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.
There is a two-statement cycle grace period after account opening before the service fee is imposed
Accounts closed between statement cycles will not receive accrued interest.
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