Fidelity Savings Deposit Rates

Before you judge deposit rates, Fidelity Savings would suggest that you consider the following question:

Is comparing APY the best way to decide which financial institution has the highest rates?

The Federal Truth-in-Savings Regulation requires that all financial institutions disclose the Annual Percentage Yield (APY) when they advertise a deposit rate. The APY is a tool for evaluating how much a deposit earns for you over a twelve month period. APY considers the effect of compounding of interest on your deposit. In general more frequent compounding, such as daily compounding, means that a deposit is receiving interest on the interest earned on the deposit. The daily compounding method of calculating interest, which is used by Fidelity Savings for all accounts allows your money to work hardest and grow faster than most methods of calculating interest. Also, at Fidelity Savings your interest is credited to your accounts at a minimum of quarterly, which means that you have access to your interest on the day it is added to your deposit account. Daily compounding and a minimum of quarterly interest crediting applies to all Fidelity Savings deposit products, except Vacation and Holiday Club accounts wherein these accounts earn simple interest paid at the club’s maturity.

Additional items to consider, which may affect your accounts net earnings, are fees charged to your account and other non-interest bearing required accounts. Fees therefore, may reduce earnings on the deposited funds. Fidelity Savings suggest that you obtain a copy of each financial institution's “Truth in Savings Disclosure” to fully evaluate your deposit decisions.

Don’t forget that APY is a valuable means to evaluate how much a deposit earns, but also consider fees in your research.

Fidelity Savings’ accessible and experienced client service representatives look forward to meeting with you, without obligation, to help you evaluate APY and the financial impact on your monthly income from deposits. Fidelity Savings is recognized for its continued customer service both during and after all accounts are opened. Fidelity Savings success in its community is seen through helping those with deposit and borrowing needs from today’s generation, their parents and their grand-parents before them. Fidelity Savings is recognized for being a banking tradition since 1885. We can make a difference, Let us show you how!

Deposit Rates are effective as of August 29, 2008

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