HOW DEMAND DEPOSIT LOAN CHARGES ARE CALCULATED
To figure the INTEREST CHARGE for each day in a billing cycle, a daily periodic rate is multiplied by the daily balance of your loan account balance each day. You then add to those daily interest charges to figure the total INTEREST CHARGE for the billing cycle. To figure the daily balance, you first take your loan account balance at the beginning of each day, and add any new advance, and subtract any payments or credit that apply to debt repayment, and any unpaid interest or other finance charges, fees, and charges. This gives you your daily balance.
The minimum periodic payment required is shown on the front of this bill. You may pay off your Demand Deposit Loan Account balance at any time, or make voluntary additional payment. Payments shall be applied, first to any unpaid INTEREST CHARGES, and second the principal balance outstanding in your Demand Deposit Loan Account. Periodic statements may be sent to you at the end of each billing cycle showing your Demand Deposit Loan Account Transactions.
IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR DEMAND DEPOSIT LOAN
If you think there is an error on your statement, write us at:
Denver Savings Bank
121 S State St. PO Box 381
Denver, IA 50622
In your letter, give us the following information:
· Account Information: Your name and account number
· Dollar Amount: The dollar amount of the suspected error.
· Description of the Problem: Describe the error and describe what you believe is wrong and why you believe it is a mistake.
You must contact us within 60 days after the error appeared on your statement.
You must notify us of any potential errors in writing or electronically. You may call us, but if you do, we are not required to investigate any potential errors and you may have to pay the amount in question.
While we investigate whether or not there has been an error, the following are true:
IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR ELECTRONIC TRANSFERS
Telephone or write us at the telephone number or address located on the front of this statement as soon as you can. If you think your statement or receipt is wrong or if you need more information about a transfer on the statement or receipt. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared.
We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this, we will recredit your account for the amount you think is the error, so that you will have use of the money during the time it takes us to complete our investigation.
Balancing Your Checking Account
You may use this form to assist you in balancing your checking account
to your statement. Please complete all the information for the
Statement Balance and Check Register Balance forms, and click the
Calculate buttons near the bottom of the page. When the
Balances at the bottom of the page equals each other, (Adjusted Statement
Balance and Adjusted Check Register Balance) you have balanced your
checkbook! If the Adjusted Statement Balance and Adjusted
Check Register Balance do not equal each other, make sure all the
information entered is correct and complete, and calculate and compare
The Adjusted Statement Balance and Adjust Check Register Balance should equal each other. If they equal each other, you have balanced your checking account! If they do not equal each other, make sure all the information entered is correct and complete, and calculate and compare balances again.