Interest Rate Information - You will be paid the interest rate disclosed at account opening until the maturity date of the certificate. APY stated for maturities of less than one year assumes that interest compounds at maturity and is re-invested for same term and interest rate for a one year period.
Compounding and crediting frequency - For terms of one year or less, interest will be compounded at maturity, and interest will be credited at maturity. For terms greater than one year, interest will be compounded on an annual basis, and interest will be credited on an annual basis.
Minimum balance requirement - You must deposit $1,000.00 to open a certificate of deposit.
Daily balance computation method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic interest rate to the principal in the account each day.
Accrual of interest on non-cash deposits - Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
Transaction limitations - You may not make any deposits into your account before maturity. You may not make withdrawals of principal from your account before maturity. You can only withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest any time during the term of crediting after it is credited to your account.
*Early Withdrawal Penalties (a penalty may be imposed for withdrawals before maturity)
Withdrawal of interest prior to maturity- The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
Automatically renewable time account - This account will automatically renew at maturity. You may prevent renewal if we receive written notice from you before maturity of your intention not to renew or you withdraw the funds in the account at maturity (or within the grace period mentioned below, if any). If you prevent renewal, interest will continue to accrue after final maturity for up to ten calendar days. The interest rate will be the current interest rate in effect for new certificates which have the same term.
Each renewal term will be the same as the original term, beginning on the maturity date. The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features as the original time deposit. You will have a grace period of ten calendar days after maturity to withdraw the funds without a penalty.