For Business and Consumers. One account per Tax ID. This account is a tiered account with a variable rate; interest rate and annual percentage yield (APY) may change. A minimum deposit of $25,000 in funds not currently on deposit with Mariner’s Bank is required to open this account and to obtain the tier two APY. The total amount you can have on deposit in any Rate Chaser is $1,000,000. excluding interest. Tier One: $0.00 – $24,999.99 – Tier Two: $25,000. – $1,000,000. The APY for tier one: $0.00 – $24,999.99 will be set monthly. Once the account daily balance meets the $25,000. daily balance threshold, the entire balance will earn the set US Treasury 4 week Treasury Bill rate. The APY for tier two: $25,000. – $1,000,000. will be tied to the US Treasury 4 week Treasury Bill. You can find the current rate of the 4 week US Treasury Bill by visiting www.treasury.gov. Should the balance fall below $25,000. at any time during the month, the account will earn the APY set for tier one. Interest earned is based on a simple interest calculation method. Interest rate adjustments, if any, will be made monthly on the first business day of the month. Transaction limitations apply. Fees can reduce earnings. Rates are subject to change at any time without prior notice.
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