Savings & Money Market Accounts

Notice for all Midland Interest-bearing Demand Deposit Accounts:
We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. Interest is calculated on the average daily balance on all interest bearing deposit accounts. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). Interest will be compounded monthly and will be credited to the account monthly. If the account is closed before interest is credited you will not receive the accrued interest.

Regular Savings

• This is an interest earning account
• Interest will be paid quarterly and is calculated on the average daily balance. (Interest rates are subject to change daily at bank's discretion)
• A deposit of $100 or more is required to open this account (the minimum opening deposit is waived for persons under 18 years of age)
• A minimum daily balance of $100 is required to avoid a $1.00 monthly service fee (waived for persons under 18 years of age)
• Six (6) transfers are allowed from your Savings Account each month by preauthorized debit or automatic transfer, telephone agreement, order or instruction, to another account or to third parties. Transfers made in person, by messenger, by mail or at an ATM are unlimited
• A $1.00 per withdrawal fee will be charged for each withdrawal after the first six
• You may request a free Midland National Bank ATM Card (a $1.00 charge will be assessed for each ATM withdrawal conducted at machines not owned by Midland)
• Other fees may apply

Money Market Savings

• This is an interest-earning account that pays a higher interest rate than Regular Savings
• The interest rate paid is determined by the daily balance in the account
• Interest will be compounded monthly and paid monthly
• A deposit of $1,000 or more is required to open this account
• Six (6) transfers are allowed from your Money Market Savings Account each month by check, preauthorized debit or automatic transfer, telephone agreement, order or instruction, to another account or to third parties. Transfers made in person, by messenger, by mail or at an ATM are unlimited
• There are no monthly service fees
• Other fees may apply

Christmas Club Savings

• This is a savings program in which no monthly statements are provided
• Interest will be compounded daily and will be paid at maturity (Maturity date to be determined by Midland; annual maturity date is approximately the last Friday in October)
• No withdrawals are permitted until account maturity
• The interest rate will be paid on the average daily balance. (Interest rates are subject to change daily at bank's discretion)
• There are no monthly service charges
• Other fees may apply