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North Atlanta National Bank's Stakeholders'
Report
1st Quarter 2007
Tax-Refund Suggestions
If you're like millions of other Americans, April 15 (actually,
the 17th this year) was the day you could procrastinate until
before you finally had to file your income taxes, Likewise, you
may be one of the millions who will be getting a refund this
year. If so, what do you plan to do with it?
Here's where you may want to deviate from the norm and
actually put your money in the bank and earn some interest
instead of treating your refund like a windfall - and spending
it as fast as you can.
NANB offers a couple of very good accounts in which to
deposit your tax refund, both of which pay a higher rate of
interest than interest-bearing checking or traditional savings
accounts. Following are the important details about both:
NANB Money Market Account
The interest rate and annual percentage yield depend upon the daily balance in the account.
Personal account holders must maintain a minimum balance of $100 in order to receive interest for the
day and an average daily balance per statement period of $2,000 to avoid a $15.00 monthly fee.
Commercial account holders must maintain a minimum balance of $1,000 in order to receive interest
for the day and an average daily balance per statement period of $5,000 to avoid a $15.00 monthly fee.
Account holders may make six (6) transfers from the account for each statement period by pre-authorized
or automatic transfer and three (3) transfers for each statement period by check, draft or debit card. A $10.00
fee will be assessed for additional debits.
Transfers made in person, by mail or at the ATM are unlimited.
NANB Short-Term Parking Account
Designed for higher balances and infrequent withdrawals
PAYS OUR HIGHEST RATE OF INTEREST ON A SAVINGS ACCOUNT
The interest rate on the account is based on the North Atlanta National Bank Prime Rate
(currently 8.25%*) minus a margin of 3.5%.
The interest rate on the account has a floor of 1.25% and a ceiling of 8.00%.
Interest is compounded daily and credited to the account monthly.
An unlimited number of withdrawals is allowed; however, each withdrawal incurs a $10.00 fee
(unless the withdrawal is to close the account).
Personal account holders must maintain a minimum balance of $5,000 in order to avoid a $10.00 monthly fee.
Business account holders must maintain a minimum balance of $10,000 in order to avoid a $10.00 monthly fee.
For more information about these or any other accounts, please contact Brian McGuire at 678-277-8436 or bmcguire@nanb.com.
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