Earn 1.51%* APY (annual percentage yield) on your entire savings account balance when you meet the Rewards requirements of your Rewards Checking account. With no monthly fees and no minimum or maximum balance requirement it may almost seem too good to be true, but is actually very simple. When you help us to serve you in the most efficient manner, we reward you in the form of a high yielding account.

• There are no minimum or maximum balance requirements
• This account requires a linked Rewards Checking account. You must have an existing, or open a new, Rewards Checking account AND meet the Rewards requirements for the monthly statement cycle in order to earn the 1.51% APY. If the Rewards Checking requirements are not met, you will receive the base APY (currently 0.25%) for that statement period on your Rewards Savings account.
• Only one Rewards Savings account can be linked to each Rewards Checking account, and the primary owner of the Rewards Savings account much match the primary owner of the Rewards Checking account (SSN)
• No account fees
• You must deposit $50.00 to open this account
• This account requires an electronic statement, combined with your Rewards Checking account statement and delivered electronically on a monthly basis
• Account will be converted to a regular statement savings account if Rewards Checking account is closed

*1.51% APY effective as of July 1, 2010. 1.51% yield paid on entire balance each cycle providing the Rewards requirements are met on your Rewards Checking account. If you do not meet the requirements on your Rewards Checking account during a given cycle, you will earn the standard (base) rate of 0.25% APY on entire balance in your Rewards Savings account. We may change the interest rate and APY at any time without notice after the account is opened. Fees may reduce earnings on account.

This is an interest-bearing account. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. The daily balance that we use when calculating interest is the collected balance. That means we only include those funds for which we have actually received payment when we determine the balance on which interest is paid.

Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Interest will be compounded daily and will be credited to your account monthly.

At the Bank's discretion, we may change the interest rate on the account at any time. If you close your account before interest is credited, you will not receive the accrued interest.

You are permitted to make no more than (6) six transfers and withdrawals, or a combination of such transfers and withdrawals, per calendar month or statement cycle (or similar period) of at least 4 weeks. Transfers and withdrawals may be made to another account (including a transaction account) at Sutton Bank or to a third party by means of a pre-authorized or automatic transfer, or telephonic (including data transmission) agreement, order or instruction.

Excessive transaction fee $10.00/per occurance

Rewards Savings

Q: What is Rewards Savings?

A: Reward Savings is adding a Savings account to your Rewards Checking account so you can earn a higher interest rate on two accounts.

Q: Can I change one of my current savings accounts to a Rewards Savings account?

A: Yes, but it must be attached to a Rewards Checking account.

Q: Can I have both e-statements and paper statements?

A: No, this account must be set up only on e-statements.

Q: Will my statement cycle change?

A: If you already have a Rewards Checking account, the cycle period will remain the same. If you currently receive your savings account statement on a quarterly basis, you will now receive your savings statement combined with your monthly Rewards Checking statement and sent electronically. The statement cycle for Rewards Checking begins the first day after the last business day of the previous calendar month and ends the last business day of the current calendar month.

Q: How can I get cash out of this account?

A: You can either get cash at a Sutton Bank owned ATM, come into a branch, or you can transfer money through our online banking system.

Q: Is there a minimum balance on this account?

A: No, there is neither a minimum nor a maximum.

Q: Do I have to meet the requirements twice to get the interest?

A: No, you only have to meet the requirements in your Reward Checking account.

Q: What happens if I don't meet the requirements for my Reward Checking?

A: You will receive the base APY for that statement period on both accounts.

Q: Can I open a Rewards Savings account over the phone?

A: We prefer for you to come in to an office.

Q: Can I open multiple Rewards Savings accounts for the same address?

A: Only one Rewards Savings account can be linked to one Rewards Checking accounts. If you have 2 Rewards Checking accounts, then you could have 2 Rewards Savings accounts, however the primary owners of the accounts must match by social security number.

Q: Can a DBA use this account?

A: No. This account is for personal accounts holders only.

Q: Can this be used as a business account?

A: No. This account is for personal account holders only. If you qualify for Rewards Checking, then you would qualify for Rewards Savings.

Q: Are my deposits insured?

A: All Sutton Bank deposits are insured in accordance with the FDIC coverage limits. Talk to a Personal Banker, or access the FDIC website at www.fdic.gov for more information.