Certificates of Deposit
Certificate Term | Interest Rate | APY | Minimum Balance to Open Account | Early Withdrawal Penalty |
6 Month |
0.30%
|
0.30% |
$1,000.00 |
3 Months of interest |
12 Month |
0.35% |
0.35% |
$1,000.00 |
3 Months of interest |
18 Month |
0.40% |
0.40% |
$1,000.00 |
6 Months of interest |
24 Month |
0.45% |
0.45% |
$1,000.00 |
6 Months of interest |
36 Month |
0.60% |
0.60% |
$1,000.00 |
6 Months of interest |
48 Month |
0.75% |
0.75% |
$1,000.00 |
12 Months of interest |
60 Month |
0.75% |
0.75% |
$1,000.00 |
12 Months of interest |
72 Month |
1.05%
|
1.06%
|
$1,000.00 |
12 Months of interest |
APY is based on quarterly compounding. Interest rates are fixed for term of the certificate. Your account will automatically renew at maturity. You will have 7 calendar days after the maturity date to withdraw your funds without being charge a penalty. Penalty will be imposed for early withdrawl.
Additional Information
- Fixed Rate Account: The interest rate on this account is fixed. You will be paid this rate until the maturity date of the certificate.
- Compounding and Crediting: Certificates with terms of 91 days will earn interest on a noncompounded basis and be credited at maturity. Certificates with terms greater than 91 days will earn interest on a quarterly basis compounded basis and credited on a quarterly basis unless monthly, quarterly, semi-annual or at maturity checks or transfers are taken. In this case, interest will be earned on a noncompounded basis.
- Computation Method: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
- Accrual of Interest of Noncash Deposits: Interest begins to accrue on the business day you deposit noncash items (for example, checks).
- Transaction Limitations: You may not make deposits into your account until the maturity date.
- Early Withdrawal Penalty: We may impose a penalty if you withdraw any of the principal before the maturity date. If you reduce the balance in the account below the minimum balance requirement, we may impose the penalty on the entire account balance and any funds left in the account will then receive the interest rate and annual percentage yield then being paid on regular savings accounts.
- Withdrawal of Interest Prior to Maturity: The annual percentage yield disclosed in the rate section assumes interest will remain on deposit until maturity. Any withdrawal will reduce earnings.
- Renewal of Account: Your account will automatically renew at maturity. You will have 7 calendar days after the maturity date to withdraw your funds without being charged a penalty.
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