![]() The average daily balance is calculated by adding the balance in the account for each day of the period and dividing that figure by the number of days in the period. The Average Daily Balance Method applies a periodic rate to the average daily balance in the account for the period. We use the Average Daily Balance to calculate interest on your account. It also added a no-penalty CD and a bump-up CD earlier this year. The Par value of a share in this credit union is disclosed in the Fee Schedule.īALANCE COMPUTATION METHOD. Synchrony Bank offers many regular CDs ranging from three months to five years. The minimum balance requirements may include a minimum opening deposit, the minimum balance you must maintain in the account to avoid service fees, and the minimum balance that you must maintain each day to earn the stated Annual Percentage Yield (APY) for that account. If you close your account before interest is paid, you will not receive the accrued interest. For all dividend earning accounts, interest will begin to accrue on the business day that non-cash items (i.e., checks) are deposited to the account. ![]()
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