### Question
How is the "multiple rate account" defined?


### Answer
The term **multiple rate account** is defined in *12 U.S.C. § 4313* as follows -

> any account that has 2 or more annual rates of simple interest which take effect at the same time or in succeeding periods and which are known at the time of disclosure

#### Citation:
  - *12 U.S.C. § 4313*
  - Heading: **CHAPTER 44-TRUTH IN SAVINGS**

