National bank automatic payment plan accounts.

CFR · 2024-01-01 · US · Title 12

A national bank may, for the benefit and convenience of its savings depositors, adopt an automatic payment plan under which a savings account will earn dividends at the current rate paid on regular savings accounts. The depositor, upon reaching a previously designated age, receives his or her accumulated savings and earned interest in installments of equal amounts over a specified period.

official document · source cfr-2024 · id 12:§ 7.1018