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Christmas Club

Minimum Balance Requirements

Minimum Balance to Open Account
  • You must deposit $1.00 to open a Christmas Club Account
Annual Percentage Yield (APY) Disclosed
  • You must maintain a minimum balance of $1.00 in your account each day to obtain the disclosed APY

Rate Information

Determination and Frequency of Interest Rate
  • At our discretion, your interest rate and annual percentage yield may change
Compounding and Crediting Frequency
  • Interest will be compounded annually
  • Interest will be credited to your account at maturity
  • If you choose to close your account before interest is credited, you will not receive the accrued interest
Accrual of Interest on Noncash Deposits
  • Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (i.e. checks)
Balance Computation Method
First Community Bank of Moultrie County uses the “daily balance” method to calculate the interest on your account.
  • Daily Balance Method: applies a daily periodic rate to the principal in the account each day

Transaction Limitations

  • You may not deposit more than $10,000.00
  • You may not make withdrawals from your account until maturity date

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Consumer Loans

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