- BRANCHES
- Uliga
- Ebeye
- Airport
- Kwajalein
- VILLAGE BANKS
- Roi Namur
- Jaluit
- Arno
- Laura
- ACTIVITIES
- MoneyGram®
- Microloan
- Loan by Phone
- Quick Loan
-
LINKS
- CMI
- RRE
- NTA
- MIVA
- Government
- Yokwe
- Embassy
- Coop
- Billfish
- Bikini
- AMI
- Alele
- Statistics
- UN
- Canoe
- Ri-Majol
- MISSA
- PII
- Journal
- Resort
- Rongelap
- RMI Courts
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Services
- Services
-
- USD American Express® Traveler's Checks
- Loans
- Letters of credit
- MoneyGram® remittances
- International wire transfers
- Construction bid bonds
- Collect utility payments
- Sell telephone cards
- Time deposits
- Demand deposits - not negotiable outside of the Marshall Islands
- Correspondent banking
- Payroll processing
- Allotments (payroll deductions)
- Mobile banking via ship and plane
- Deposit accounts
-
- Money Market Checking compounded monthly earns 1.0%
- Passbook savings compounded quarterly earns 1.5% - minimum balance $125.00
- 3 month Time Certificate of Deposit compounded annually earns 3.0%
- 6 month Time Certificate of Deposit compounded annually earns 3.5%
- 9 month Time Certificate of Deposit compounded annually earns 4.0%
- 1 year Time Certificate of Deposit compounded annually earns 5.0%
- 2 year Time Certificate of Deposit compounded annually earns 6.0%
- Regular checking - minimum balance $300.00
- Deposit interest method
- Interest is calculated daily and rounded to the nearest cent
at the account's stated rate on the account's closing daily balance
using a 365 day basis and accumulated until paid on the last business
day of each month, quarter, or year as may be projected to include the last
calendar day of the month. Interest is therefore paid (compounded) monthly,
quarterly, or annually and available for withdrawal on the first business day of
the following month.
- Loans
-
- Business
- Quick Loan
- Loan by phone
- Regular consumer loan - 17.5%
- Microloan - 8%
- Loan interest method
- Each calendar day beginning with the day the loan is made
interest is calculated on the unpaid loan balance. This daily
interest is accumulated separately from the unpaid loan balance.
Daily interest is not calculated for the day that the loan is paid
in full. Payments are applied first to any accumulated late fee,
then to accrued interest with any remainder applied to principal
unpaid. The calculation for daily interest is:
Principal ? Interest Rate ? Number of Days ? 365.
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