Certificate of Deposit

  • The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
  • This account will automatically renew at maturity. You will have ten (10) calendar days after the maturity date to withdraw funds without being charged a penalty. The renewal rate will be subject to market rates. If you withdraw the funds during the ten days after the maturity date, you will not receive the accrued interest since the maturity date.
  • If the original term of your certificate is 12 months or less, you will be charged an early withdrawal penalty of 3 months interest if you redeem your certificate prior to maturity.
  • If the original term of your certificate was in excess of 12 months, you will be charged an early withdrawal penalty of 6 months interest if you redeem your certificate prior to maturity.
  • Interest will be compounded quarterly on all certificates with a term of 12 months or more. You may receive interest by check if requested when opening the account.
  • Interest will be credited at maturity on all certificates with a term of less than 12 months. You may receive interest by check if requested when opening the account.
  • Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
  • We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.
  • After the account is opened, you may not make deposits into this account until the maturity date.
  • You must deposit $1,000 to open certificates of deposit with maturities that are less than 12 months. You must maintain a minimum balance of $1,000 in your account to obtain the disclosed annual percentage yield.
  • You must deposit $100 to open certificates of deposit with maturities of 12 months or more. You must maintain a minimum balance of $100 in your account to obtain the disclosed annual percentage yield.

* Fees could reduce earnings.

 
 
Last updated on May 02, 2013

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