Interest Rate Inquiries

Questions
Answers


Question: What is the current rate and when will it change?

Answer: OneUnited Bank offers great rates! For current rates, please visit our Today’s Rates page. (Click Here) This page provides our current Annual Percentage Yield (APY) for our online accounts. We are committed to offering great rates. Please review our Online Truth In Savings Disclosure for more details.

 


Question: Is this a promotional rate that is only good for 3 months?

Answer: No. OneUnited Bank is offering a competitive rate. Our online E-CD accounts allow you to lock in your rate for a period of time – or term. Our interest checking and savings accounts provide flexibility. Although rates are subject to change, we are committed to offering great rates. Please review our Online Truth In Savings Disclosure for more details.

 

Question: How often is interest compounded and/or credited?

Answer: For our online E-CD, interest is credited at maturity (or annually if your term is greater than one year). For our online checking and savings accounts, interest is compounded and credited monthly. Please review our Online Truth In Savings Disclosure for more details.

 

Question: How can I see my interest on my online savings account since interest credits monthly, but statements are quarterly?

Answer: For your online savings account, you can enroll in Online Banking and see interest posting to your account monthly. You can also enroll in eStatements to obtain your quarterly statement the next business day after the end of the quarter.

 

Question: If I withdraw my funds before the end of the year, will I lose interest on my CD?

Answer: For our online E-CD, interest may be credited to your account if you withdraw your funds before the maturity date. However, you are subject to a penalty of 6 months interest based on the amount withdrawn that may result in a reduction of principal. Except as required by law, withdrawing funds from a Certificate of Deposit prior to maturity will be permitted only with the consent of the Bank, which may only be given at the time of withdrawal. Please review our Online Truth In Savings Disclosure and our Deposit Account Agreement for more details.

 

Question: If I close my interest checking or savings account before the end of the month, will I lose interest?

Answer: For our online interest checking and savings accounts, interest will not be credited to your account if you close your account before the end of the month. If you withdraw funds and your balance goes to zero, your account may automatically be closed and interest may not be credited at the end of the month. Please review our Online Truth In Savings Disclosure and our Deposit Account Agreement for more details.

 

Question: If I close my savings account before the end of the month, will I lose interest?

Answer: For our online savings accounts, interest will not be credited to your account if you close your account before the end of the month. If you withdraw funds and your balance goes to zero, your account may automatically be closed and interest may not be credited at the end of the quarter. Please review our Online Truth In Savings Disclosure and our Deposit Account Agreement for more details.

 

Question: If rates change, how is my interest affected?

Answer: For our online E-CD, your rate will not be affected if rates change and the account has not matured. Matured accounts will be renewed automatically at the then-effective APY and interest rate. For our online interest checking and savings accounts, OneUnited Bank calculates interest on your account every day based on the effective rate that day and your average daily balance. Please review our Online Truth In Savings Disclosure and our Deposit Account Agreement for more details.

 

Question: Your rate changed? Is it going to keep changing?

Answer: OneUnited Bank offers great rates! Although our rates change with the market, we are committed to remaining competitive. Our online interest checking and savings account rates can change at any time, while the rate on an online E-CD is locked in for the term of the account based on the account balance. For current rates, please visit our Today’s Rates page. (Click Here) This page provides our current Annual Percentage Yield (APY) for our online interest checking, savings, and E-CD accounts, which are the interest bearing accounts available online. Please review our Online Truth In Savings Disclosure for more details.

 

Question: Do you offer accounts that pay interest monthly?

Answer: Yes. We offer UNITY E-Gold Checking that credits interest monthly.