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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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“From the start to finish, Great Midwest helped us through a process that could be intimidating and overwhelming, especially to First-time Buyers. At every step of the way, they answered questions, guided us through hurdles, and did so with respect and humor.”

Marilyn & Allison, Neenah

Great Midwest Bank