Interest rates are determined weekly at Banks discretion. You will be paid this rate until maturity.
Maturity Conditions – Automatically renewable CDs: Unless withdrawn
within the 10-day grace period after the maturity date, your
deposit will be renewed automatically for a period of time equal
to the initial maturity period, and thereafter for additional
successive like periods of time. Withdrawals made during the
grace period are not subject to early withdrawal penalties. The
interest rate will be that which is applicable to deposits maintained
by the Bank of like maturity and amount at the time of such renewal,
or as disclosed to you by prior written notice. Interest earned
during any preceding period, but not paid to you, becomes part
of principal and is subject to a penalty for early withdrawal
during the renewal terms. Automatically renewable CDs that are
redeemed during the 10-day grace period following maturity earn
no interest after the maturity date.
Interest is calculated on daily ledger balance and can be credited as frequently as monthly, quarterly, semi-annually, annually, or at maturity, except for business CDs of $100,000 or more with terms of less than 182 days, at maturity.
Penalty for Early Withdrawal – If you withdraw any of the principal
before stated maturity date, we may impose a interst penalty
of:
| Terms: |
Penalty: |
| 30
- 89 Days |
30
Days |
| 90
- 179 Days |
90
Days |
| 180
- 364 Days |
182
Days |
| 12
- 23 Months |
9
Months |
| 24
- 35 Months |
12
Months |
| 36
- 120 Months |
24
Months |
|
Early
withdrawal penalties may result in a reduction of principal.
Annual percentage yield is based upon the maximum term
of deposit for each maturity range. The annual percentage
yield assumes interest will remain on deposit until maturity.
A withdrawal will reduce earnings. |
