What is a Preferred Asset Investment Account?
A Preferred Asset Account is an investment style depository account for customers with balances in excess of $100,000 looking for the opportunity to optimize their rate of return while maintaining access to their funds. It offers flexibility and options you need.
What are the Benefits?
- Interest rates tiered so higher balances earn more
- Interest paid from the date of deposit with monthly compounding
- Unlimited deposit convenience at any banking center, with online banking, or by 24-hour telephone banking
- 24-hour-a-day account information everyday with online banking and 24-hour telephone banking
- Unlimited withdrawals in person at any banking center
- Up to six withdrawals per statement cycle with online banking or 24-hour telephone banking
- A minimum balance of $100,000 must be maintained for full Preferred Asset Investment Account benefits
- Increased annual percentage yields are available on balances of $250,000 or more
- Balances that fall below required minimums are subject to a reduced rate and/or monthly service fee
- A First State Bank of Illinois checking account is required to use checks