Share Rate Inquiry - Split Rate Details

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Description

The next date this account type will pay dividends.

The dividend calculation method for this account (Simple Daily (S), Average Daily (D), Compound Simple (C)).

If this is a split rate account, this flag shows whether it uses a plateau configuration or not.

A plateau rate is a blended rate: for each level, a different rate is paid for the amount within that level. For example, the loan could pay 5% for the first $1,000, 5.5% for the next $2,000, and 6% for any amount above that.

A non-plateau rate is a single rate for the entire amount, using the balance to determine the rate. For example, the loan could pay 5% for amounts under $1,000, and 5.5% for amounts above $1,000. If the balance on the account is $1,500, the entire amount is paid at 5.5%.

Up to 6 different split level rates are allowed for a share account type, in addition to the base rate (for a total of 7 tiers).

•  The Low amount shown for Split level 0 (the base rate) is taken from the minimum balance to earn dividends on the dividend application configuration.

The low end of the dollar range for each split level.

The high end of the dollar range for each split level. The maximum for the top range will read 999,999,999.99 (one penny less than $1 billion).  

The rate paid for a balance which falls within the Low and High dollar range.

• Note that the actual calculation of dividends will be different depending on whether or not this is set up as a plateau rate. 

With the exception of Qualified Dividends products, any balance range set up with a rate of 0.00 will actually be paid at the rate for the next lower level. For example, if you have 3 range levels configured, and the rate for level 3 is 0.00, then balances in that range will actually be accrued at the rate for level 2, not at 0.00.  For products that have been set up properly for Qualified Dividends processing, you are able to set up ranges to pay at zero.  Refer to the Qualified Dividends booklet for details.)

The Annual Percentage Yield, provided in compliance with the Truth in Savings regulations. This is calculated taking into account compounding and other variables.

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