# Savings Tiers Terms and Current APYs

Savings Tiers are the way we reward our customers for saving. Once you are eligible for a Savings Tier, the more you save, the higher your annual percentage yield ("APY").

**Direct Deposit Requirement:**

You must have at least one qualifying direct deposit per calendar month to be eligible for a Savings Tier.

**Savings Rate Calculation and Corresponding Savings Tiers:**

We determine your Savings Tier using the following formula:

We subtract all your money out (withdrawals) during the quarter from all your money in (deposits) during the quarter. We take this net amount and divide it by all your money in (deposits) for the quarter to arrive at a savings rate.

- If your savings rate is 20% or more, you will be in Savings Tier 1 the following quarter
- If your savings rate is at least 15%, you will be in Savings Tier 2 the following quarter
- If your savings rate is at least 10%, you will be in Savings Tier 3 the following quarter
- If your savings rate is at least 5%, you will be in Savings Tier 4 the following quarter
- If your savings rate is less than 5%, you will not be assigned a Savings Tier the following quarter

**Current Savings Tier APY Rates:**

**Tier 1**: 3.00% APY**Tier 2:**2.00% APY**Tier 3:**1.00% APY**Tier 4:**0.50% APY

We do not pay interest on account balances above $100,000. New accounts with confirmed direct deposit will earn a tier no lower than Savings Tier 3 for the first full calendar quarter after opening a deposit account. For an example of how Savings Tiers can work, please read our blog post Savings Tiers: Explained.

Rates are accurate as of (today).