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.

 

Balance my Checkbook

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 balances again.

Statement Balance Form

First Step

Enter Ending Balance of this Bank Statement:


Next Step :
Go through your check copies/stubs or check register and mark off each check listed as paid, as well as deposits and withdrawals, on your statement.  If you have written a check, deposited funds/money, or made withdrawals not listed on your statement, follow the instructions below to complete the fill-in section. Complete this section first.

  • Enter type of transaction (unpaid checks, deposits, and withdrawals) shown in your register and not on your statement.
  • Enter amount of the transaction
  • The BALANCE column is computed for you when you click the CALCULATE button near the bottom of the page  
Transaction Amount Balance
.


Final Step :

Click "Calculate", and your final account balance will be displayed!

Adjusted Statement Balance:

Checkbook Register Balance Form

First Step:

Enter Check Register Balance:


Next Step:
Go through your checkbook register and compare recorded items to your statement.  If ATM transactions, interest, fees/charges, incoming transfers (to your checking account), and outgoing transfers (from your checking account) are not recorded already in your checkbook register, follow the instructions below to complete the fill-in section.

  • Enter type of transaction (ATM, interest, fee/charge, and transfers) shown on your statement and not in your register.
  • Enter amount of the transaction
  • The BALANCE column is computed for you when you click the CALCULATE button near the bottom of the page
Transaction Amount Balance
.


Final Step :

Click "Calculate", and your final book balance will be displayed!

Adjusted Check Register Balance:

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.