Overdraft Protection

If overdrafting your checking account is a concern for you, now you can bank at Jarrettsville Federal with peace of mind. An overdraft will occur whenever your available balance is insufficient to pay a check drawn on your checking account or charge made against your checking account. With the Jarrettsville Federal Overdraft Protection, you can draw loans amounts in multiples of $50 to cover the overdraft. (Overdraft Protection is subject to approval.)

How can you take advantage of this loan and overdraft protection?

If approved, this program covers any amount deducted from your checking account under an automatic savings plan, any withdrawal made at an automated teller machine, any transfer made at a point of sale terminal, safe deposit fees and service or other charges under depository agreements you have with us. You may also get loans under your account by requesting an advance in person or by making a transfer into your checking account.

Are there finance charges?

The finance charge on any loan begins when the funds are disbursed to you and continues until the date when your payment is posted to your account. The Daily Periodic Rate is 0.049315%. This is equivalent to an ANNUAL PERCENTAGE RATE of 18%.

Is there a minimum payment?

Your Minimum Payment Due each month is 1 / 120 the of the “New Balance” shown on your monthly statement plus accrued interest. If that amount is less than $25, then the Minimum Payment Due is $25 or the entire New Balance, whichever is less. You also must pay all past due amounts. The minimum payment due will be debited from your checking account on the payment due date shown on the monthly statement.

For more details, ask for an Overdraft Protection application in the branch today.