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Types of Savings

SAVINGS
APY*
MINIMUM BALANCE
COMPOUNDING
FEES
Step-Up Savings
(age 17 & under)
0.55%-0.55%
$5
Monthly
$25 early closing fee if account is closed within 30 days
0.40%-0.55%
$100
Monthly
$25 early closing fee if account is closed within 30 days; $5 per month if balance falls below minimum
Akamai Savings
 1.05% $1,000
Quarterly
 $50 early closing fee if account is closed within 90 days; $15 per quarter if balance falls below minimum
1.25%**
$10,000
Monthly
$35 early closing fee if account is closed within 90 days
0.40%-0.65%
$50,000
Monthly
$25 early closing fee if account is closed within 30 days; $5 per month if balance falls below minimum
Ali'i Savings
 0.40% - 2.25% $50,000***
Monthly
 $50 early closing fee if account is closed within 90 days

*Annual Percentage Yields (APYs) effective 7/28/08. The minimum deposit required to open each account type and the minimum balance required to be maintained to earn the stated APY are set forth above. For the Akamai and Ali'i Savings Accounts, minimum opening balance must be drawn from a financial institution other than Finance Factors. Fees could reduce earnings on the account. Rates may change without notice after a savings account is opened. All APYs assume interest will remain on deposit. Available to Hawaii residents and businesses only. Deposits are insured up to $100,000 by the FDIC.

**$10,000 minimum balance required to earn 1.25% Annual Percentage Yield (APY) effective 3/31/08. ($5,000 minimum balance required at Finance Factors' Hilo, Kahului, Keauhou-Kona and Lihue branches only); balances below minimum will earn 0.30% APY. Accounts closed within 90 days of opening will be assessed an early closing fee of $35. Fees may reduce earnings on the account. Money Market Savings accounts are available to state of Hawaii residents and businesses only. Rates are subject to change without notice.

***For Ali'i Savings Accounts: $50,000 minimum opening balance must be drawn from a financial institution other than Finance Factors; balances below $50,000 will earn 0.40% APY. Accounts closed within 90 days of opening will be assessed an early closing fee of $50. Fees may reduce earnings on the account. Ali'i savings accounts are available to state of Hawaii residents and businesses only. Rates are subject to change without notice.


Step-Up Savings

Just for kids, this account earns special rates for anyone under 18 years of age.

A savings account with special rates designed for savers under age 18. Excellent first account for your children.

Features/Benefits:
1. $5 minimum deposit to open account.
2. Tiered Rates mean you earn more as your balance grows; the more you save, the more you earn.
3. Interest is credited and compounded monthly.
4. Quarterly statements provide details of all transactions for the quarter.
5. Each depositor is insured by the FDIC up to $100,000.
6. Automatic Deposit Service makes saving easy.
7. Please refer to our Step-Up Savings Account Disclosures, General Savings Disclosures and Fee Schedule for additional information and terms.

Incentive Savings

Earn higher rates for higher balances with our Incentive Savings account.

A tiered savings account that pays higher interest for higher balances. You earn higher interest rates as your balance grows.

Features/Benefits:
1. $100 minimum deposit to open account ($10 minimum deposit for a savings account opened to deposit interest from a Time Certificate account).
2. Tiered Rates mean you earn more as your balance grows; the more you save, the more you earn.
3. Interest is credited and compounded monthly.
4. Quarterly statements provide details of all transactions for the quarter.
5. Each depositor is insured by the FDIC up to $100,000.
6. Automatic Deposit Service makes saving easy.
7. Please refer to our Incentive Savings Account Disclosures, General Savings Disclosures and Fee Schedule for additional information and terms.

Akamai Savings

Earn a great rate for a low minimum balance.

Our new savings account pays a great rate for a low initial deposit.

Features/Benefits:
1. $1000 minimum deposit to open account; funds must be drawn from a financial institution other than Finance Factors.
2. Interest is credited and compounded quarterly.
3. Quarterly statements provide details of all transactions for the quarter.
4. Each depositor is insured by the FDIC up to $100,000.
5. Automatic Deposit Service makes saving easy.
6. Please refer to our Akamai Savings Account Disclosures, General Savings Disclosures and Fee Schedule for additional information and terms.

Money Market Savings

Earn an exceptional rate for savings balances of $10,000 or more and enjoy the liquidity of a savings account with the earning power of a CD.

Features/Benefits:

1. $10,000 minimum deposit to open account ($5,000 minimum deposit at Finance Factors' Hilo, Kahului, Keauhou-Kona and Lihue branches only).
2. Balances below $10,000 will earn 0.30% APY for each day the balance is below the minimum.
3. If account is closed within 90 days, a $35 early closing fee will be imposed.
4. Six (6) transfers or withdrawals are allowed during each 30-day statement cycle.
5. Interest is credited and compounded monthly.
6. Quarterly statements provide details of all transactions for the quarter.
7. Each depositor is insured by the FDIC up to $100,000.
8. Automatic Deposit Service makes saving easy.
9. Please refer to our Money Market Savings Account Disclosures, General Savings Disclosures and Fee Schedule for additional information and terms.

Jumbo Savings

Earn special rates with deposits of $50,000 or more.

A special savings account that offers higher tiered interest rates for balances of $50,000 or more.

Features/Benefits:
1. $50,000 minimum deposit to open account.
2. Tiered Rates mean you earn more as your balance grows; the more you save, the more you earn.
3. Jumbo Savings rates are often higher than our other savings plans.
4. Funds can be withdrawn at any time.
5. Interest is credited and compounded monthly.
6. Quarterly statements provide details of all transactions for the quarter.
7. Each depositor is insured by the FDIC up to $100,000.
8. Automatic Deposit Service makes saving easy.
9. Please refer to our Jumbo Savings Account Disclosures, General Savings Disclosures and Fee Schedule for additional information and terms.

Ali'i Savings

Earn higher rates for higher balances with our Ali'i Savings account.

Our new savings account offers a higher tiered interest rates for balances of $50,000 or more.

Features/Benefits:
1. $50,000 minimum deposit to open account; funds must be drawn from a financial institution other than Finance Factors.
2. Interest is credited and compounded monthly.
3. Quarterly statements provide details of all transactions for the quarter.
4. Each depositor is insured by the FDIC up to $100,000.
5. Automatic Deposit Service makes saving easy.
6. Please refer to our Ali'i Savings Account Disclosures, General Savings Disclosures and Fee Schedule for additional information and terms.

 

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