Truth In Savings Disclosure
The Best Checking
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account - You must deposit $50 to open this account.
Minimum balance to avoid imposition of fees - No minimum balance. No monthly service fee.
Account requirements to obtain the premium interest rate:
- Have 10 debit card purchases settle to your account in the qualification period. ATM Transactions are not considered purchases.
- Click Here for qualification period dates for Debit Card purchases.
- Have at least one of the following ACH transactions post to the account in the qualification period: Direct Deposit, ACH Draft or Online Bill Payment
- Sign up for, receive and view eStatements, which includes acceptance of the online terms and conditions on
this website. If your Asheville Savings Bank internet banking is inactive for 90 days, this service will be discontinued and you will be unable to receive eStatements. This will result in the Premium Interest Rate qualitfications not being met.
If account requirements are not met in a qualification period:
- Your account is still free
- You will still earn the minimum rate tier on your checking balance
- Other bank’s ATM fees will not be refunded
Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits - Interest begins to accrue on the first business day after the banking day you deposit noncash items (for example, checks).
Banking Edge Premier Checking
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account - You must deposit $50 to open this account.
Minimum balance to avoid imposition of fees - A statement fee of $15 will be imposed every statement cycle if you do not hold a deposit account (in addition to this NOW account) with a balance of at least $2,500 or a mortgage loan or a home equity line of credit at Asheville Savings Bank on the statement printing date or maintain a $2,500 minimum daily balance in this NOW account.
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $500 in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits - Interest begins to accrue on the first business day after the banking day you deposit noncash items (for example, checks).
Senior Premier Checking
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account - You must deposit $50 to open this account.
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $500 in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits - Interest begins to accrue on the first business day after banking day you deposit noncash items (for example, checks).
Premier Checking
Minimum balance to open the account - You must deposit $50 to open this account.
Cancelled checks or images of cancelled checks are not returned with the monthly statement.
Statement Savings Account
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited you your account every month.
Minimum balance to open the account - You must deposit $25.00 to open this account.
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $25.00 in the account each day to obtain the disclosed annual percentage yield.
Minimum balance to avoid imposition of fees - A service charge of $1 will be imposed every statement cycle if the balance in the account falls below $300 any time during the cycle.
Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits - Interest begins to accrue on the first business day after the banking day you deposit noncash items (for example, checks).
Transaction Limitations - Transfers from a Statement Savings account to another account or to third parties by preauthorized, automatic, computer or telephone transfer are limited to six per statement cycle with no more than three by debit card or similar order to third parties.
Dime-a-saurus Kids Savings Account
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every quarter. Interest will be credited to your account every quarter.
Minimum balance to open the account - You must deposit $25.00 to open this account.
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $25.00 in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits - Interest begins to accrue on the first business day after the banking you deposit noncash items (for example, checks).
Transaction Limitations - You may not make any transfers from this account to another account of yours or to third parties by preauthorized, automatic or telephone transfer or similar order to third parties.
Account ownership - You must be age 16 or younger to open this account. Accounts opened for children under the age of 12 must be held as a custodial account under the North Carolina Uniform Transfer to Minors Act.
Health Savings Account
Rate Information - Your interest rate and annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account - You must deposit $100.00 to open this account.
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $100.00 in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits - Interest begins to accrue on the first business day after the banking day you deposit noncash items(for example, checks)
Premier Money Market Account
Rate Information - Your interest rate an annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account - You must deposit $10,000.00 to open this account.
Minimum balance to avoid imposition of fees - A statement charge fee of $10.00 will be imposed every statement cycle if the balance in the account falls below $10,000.00 any day of the cycle
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $50,000.00 in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits - Interest begins to accrue on the first business day after the banking day you deposit noncash items (for example, checks).
Transaction limitations:
Withdrawal transactions from money market accounts are limited to six (6) per statement cycle if those transactions are by third party check, transfers to another account or to third parties by preauthorized, automatic, or by telephone or the Internet. There is no limitation for transactions or transfers from money market accounts made in person at an Asheville Savings Banking Center or by Automated Teller Machine (ATM).
Money Market Account
Rate Information - Your interest rate an annual percentage yield may change.
Frequency of rate changes - We may change the interest rate on your account at any time.
Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding and crediting frequency - Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open the account - You must deposit $500.00 to open this account.
Minimum balance to avoid imposition of fees - A statement charge fee of $6.00 will be imposed every statement cycle if the balance in the account falls below $500.00 any day of the cycle
Minimum balance to obtain the annual percentage yield disclosed - You must maintain a minimum balance of $500.00 in the account each day to obtain the disclosed annual percentage yield.
Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on noncash deposits - Interest begins to accrue on the first business day after the banking day you deposit noncash items (for example, checks).
Transaction limitations:
Withdrawal transactions from money market accounts are limited to six (6) per statement cycle if those transactions are by third party check, transfers to another account or to third parties by preauthorized, automatic, or by telephone or the Internet. There is no limitation for transactions or transfers from money market accounts made in person at an Asheville Savings Banking Center or by Automated Teller Machine (ATM).
Common Features
Please refer to our separate fee schedule for additional information about charges.
We may require not less than 7 days notice in writing before each withdrawal from and interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D. Withdrawals from a time account prior to maturity or prior to any notice period may be restricted and may be subject to penalty. See you notice of penalty for early withdrawal.
Revised 7/2010
