1 For businesses and consumers. One account per Tax ID. This account is a tiered account with a variable rate; the interest rate and annual percentage yield (APY) may change. The current APYs as of 05/10/2019 are: Balances of $0.00 – $24,999.99 earn an APY of 0.25%. Balances of $25,000-$1,000,000 earn an APY of 2.50%. Once the daily account balance meets the $25,000 daily balance threshold, the entire balance will earn the advertised APY of 2.50. Should the balance fall below the $25,000 at any time during the month, the account will earn an APY of 0.25%. The total amount you can have on deposit in any Rate Chaser account is $1,000,000 excluding interest. 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 advertised APY of 2.50%, guaranteed through 6/30/2019 and variable thereafter. After the guaranteed introductory rate, the APY of the $25,000-$1,000,000 tier will be tied to the US Treasury 4 Week Treasury Bill rate. You can find the current rate of the 4 Week US Treasury Bill by visiting www.treasury.gov. 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 could reduce earnings. Rates may change at any time.
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