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Business Savings

Features Statement Savings Money Market Savings Investment Money Market
Minimum Opening Deposit $100 $2,500 $25,000
Minimum Balance Needed to Obtain Annual Percentage Yield (APY) N/A Maintain a minimum balance of $2,500 in the account each day to obtain the disclosed APY. Maintain a minimum balance of $25,000 in the account each day to obtain the disclosed APY.
Minimum Opening Deposit $25 with Direct Deposit $100 without Direct Deposit $1,000 $25 with Direct Deposit $100 without Direct Deposit
Minimum Balance Needed to Avoid Fees A monthly fee of $3 will be imposed every month if the balance in the account falls below $100 any day of the month. A service charge fee of $25 will be imposed every statement cycle if the balance in the account falls below $2,500 any day of the cycle. A service charge fee of $50 will be imposed every statement cycle if the balance in the account falls below $25,000 on any day of the cycle.
ATM Card Yes N/A N/A
Telephone Banking Yes Yes Yes
Internet Banking Yes Yes Yes
Rate Information You will be paid the disclosed interest rate for at least 30 calendar days. We will never decrease this rate unless we first give you at least 30 days’ notice in writing. Your interest rate and APY may change. Your interest rate and APY may change.
Frequency of Rate Changes Quarterly At our discretion, we may change the interest rate on your account every month. At our discretion, we may change the interest rate on your account every month.
Determination of Rate At our discretion, we may change the interest rate on your account. At our discretion, we may change the interest rate on your account. At our discretion, we may change the interest rate on your account.
Compounding and Crediting Frequency Interest will be compounded every day. Interest will be credited to your account every quarter. Interest will not be compounded. Interest will be credited to your account every month. Interest will not be compounded. Interest will be credited to your account every month.
Effect of Closing An Account If you close your account before interest is credited, you will not receive the accrued interest. If you close your account before interest is credited, you will not receive the accrued interest. If you close your account before interest is credited, you will not receive the accrued interest.
Early Withdrawal Penalties N/A N/A N/A
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. 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. 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 Non-Cash Deposits Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
"Common Features" fee chart applies. Yes Yes Yes
Transaction Limitations/Fees Transfers from a statement savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfers are limited to six per month with no transfers by check, draft, check card or similar order to third parties. A per item fee of $10 will be charged for each debit transaction in excess of six items during a statement cycle. Repeated violations of these limitations will result in the closing of the account. Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle. A per item fee of $10 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account) in excess of six items during a statement cycle. Repeated violations of these limitations will result in the closing of this account. Transfers from an Investment Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle. A per item fee of $10 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account) in excess of six items during a statement cycle. Repeated violations of these limitations will result in the closing of this account.
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Who We Are

The Harbor Bank of Maryland
25 W. Fayette Street
Baltimore, Maryland 21201
(410) 528-1800
NMLS# 417182
Routing #052001772

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