charter. n. 1. (Government, Politics & Diplomacy) a formal document from the sovereign or state incorporating a city, bank, college, etc, and specifying its purposes and rights.
Currently there is a promotional interest rate for Palladian Savings Account which is fixed at 1.30% for the first six months. After the promotional interest rate ends, the interest rate will be the non-promotional variable interest rate that is offered for Palladian Savings Account at that time (currently 0.90%). There is a minimum initial deposit of $10,000 and maximum initial deposit of $100,000. American Express. Rates as of Oct. 14th.
So I started shopping for the best rates -- boy, was I given a rude awakening. Savings accounts paying 0.5% interest ; money markets at 0.9%; and CDs not too much better at 1.1% and maybe as high as 3% if I agree to lock up my money for FIVE YEARS. I was looking down the barrel of turning that $1,000 into $1,005 through a savings account after a year -- and that was before any fees.