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BankersOnline.com Forums State-Specific Compliance Issues Iowa Maximum Rate
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#2205550 - 02/08/19 08:56 PM Maximum Rate
ahkcompliance Offline
Diamond Poster
Joined: Sep 2008
Posts: 2,481
Midwest
I have been looking in Iowa Code and haven't found anything directly. Does Iowa have a maximum rate we can pay on a deposit account?

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#2205591 - 02/11/19 02:15 PM Re: Maximum Rate ahkcompliance
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 84,766
Galveston, TX
There are no specific limits on a standard deposit account which I could find:

524.805 Deposits.
1. A state bank may receive money for deposit and may provide, by resolution of the board of directors, for the payment of interest on such deposit and shall repay the deposit in accordance with the terms and conditions of its acceptance.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2206380 - 02/15/19 06:58 PM Re: Maximum Rate ahkcompliance
ahkcompliance Offline
Diamond Poster
Joined: Sep 2008
Posts: 2,481
Midwest
Thanks Randy! That is the citation I found as well and didn't find anything.

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