Interest is calculated using the daily balance method. This method applies a daily periodic rate to the principal in the amount at the end of each day. For Hybrid CD products, interest will not be compounded and accrued interest will be credited to your account per Product Disclosure. For other interest bearing deposit products, interest will be compounded and accrued interest will be credited to your account per Product Disclosure. For Variable Rate Accounts at our discretion, we may change the interest rate and annual percentage yield (APY) for your account at any time (Excludes CD and Millennium Club Account). There is no limit to the amount of the change,and rates may change after account opening. Accrual of interest begins on the business day you deposit non-cash items (for example, checks). Accrued interest will not be paid if the account is closed before the interest is credited to the account. Fees may reduce the earnings on the account. For Certificate of Deposits and Millennium Club Accounts, a penalty will be applied for early withdrawals. New Millennium Bank reserves the right to convert your account to another type of account or close your account if limitations are frequently exceeded.