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Checking & Savings Rates

FDIC’s Electronic Deposit Insurance Estimator – EDIE
Rates effective as of January 19, 2016

Checking ProductsMinimum BalanceAPY*
Totally Free Checking$0 ($200 min. opening deposit)n/a
NOW Account$5000.05%
Super Now$0 to $2,4990.05%
$2,500 to $2,500+0.10%
Insured Investment Account (Money Market)$0 to $2,4990.05%
$2,500 to $24,9990.10%
$25,000 to $25,000+0.35%
Savings ProductsMinimum BalanceAPY*
Platinum Savings$0.00 to $49,0000.10%
$50,000 to $50,000+0.40%
Premium Passbook & Statement Savings Plus$0.00 to $24,9990.10%
$25,000 to $25,000+0.25%
Premium Passbook & Statement Savings$0.00 to $9,9990.10%
$10,000 to $10,000+0.15%
Passbook & Statement Savings$2000.10%

Great Midwest Bank uses the daily balance method to calculate 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 begins to accrue no later than the first business day after deposit.

For variable accounts (Insured Investment, Super Now, Now Account, Premium Passbook & Statement Savings, Premium Passbook & Statement Savings Plus, Passbook Savings, and Statement Savings Accounts), fees may reduce earnings and interest rates and annual percentage yield *(APY) may change after the account is opened.

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“Thank you for everything you have done. Your service was great and the application process was quick and easy. The people at GMB listened to me and did not make judgements based on numbers.”

Henry, Nashotah

Great Midwest Bank