Interest Rate and Annual Percentage Yield
At Scottrade Bank®, Interest Checking, Money Market and Savings accounts earn interest that can work for you.
In these accounts, interest begins to accrue on the business day you deposit cash or noncash items (for example, checks). To obtain the annual percentage yield, you must meet the minimum deposit requirements as well as the minimum balance for the related account. For more information on these, read Bank Accounts in our Knowledge Center.
In the interest-bearing Scottrade Bank accounts, interest is compounded every day and is credited to your account every month. To calculate the amount of interest in your account, the daily balance computation method is used. This method applies a daily periodic rate to the principal in the account each day. Interest is compounded every day, and will be credited to your account every month. If you close an account before the interest is credited, you will not receive the accrued interest.
Your Scottrade Bank® interest rate and annual percentage yield is subject to change at any time.
Federal law limits the number of certain withdrawals on any savings or money market savings account to 6 per month. Withdrawals at ATMs and in person at a branch are not subject to federal limits.