Add Higher Balance Tiers On Investment Savings

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Question:

Our private banking area is requesting to add two higher balance tiers on an investment savings account. There is no regulation or rule that would hinder this correct? The only thing I can see is if we are not offering this to other bank customers, but only to these high end customers.

Answer:

There is nothing to prevent your bank from adding those tiers. Just make certain that no existing depositor will experience a rate drop as a result (or you will have to notify existing depositors of the change).