Fixed Rate CD - 21 Months
February 04, 2025
The annual percentage yield (APY) and other information is valid as of the date shown above. If you apply for an account online, we must receive the minimum deposit required to open the account within 10 (ten) business days in order to open the account. If the minimum deposit required to open the account is received within ten business days, your account will receive the APY disclosed below. If the minimum deposit required to open the account is not received within ten business days, we will not open the account.
Rate information:
The interest rate on your account is: 3.92% with an annual percentage yield (APY) of 4.00%.
You will be paid this rate until the maturity date of the certificate on $$Token:TodayPlus21Months$$. This maturity date was determined based on today’s date. If the minimum deposit required to open the account is received at a later date, the maturity date will change and a Certificate of Deposit Terms and Conditions document with the new maturity date will be mailed to you.
The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. Interest will be compounded daily and will be credited to the account (or paid by check) at maturity.
Interest begins to accrue on the business day you make your deposit.
Balance 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.
Minimum balance requirement:
To open a certificate of deposit account, you must deposit $1,000.00 or more.
Fees
The following charges may be assessed against your account:
| Service Charge | Service Charge Amount | Description and Other Important Information |
|---|---|---|
| Service of Legal Notice | $50.00 | Charge for each legal notice served upon the Bank in connection with your account to include a garnishment, tax lien, IRS levy, subpoena, restraining order, order freezing assets or similar orders or notices requiring action or answer by the Bank. Service charge may vary when required by law. |
| Wire Transfer - Domestic | $25.00 | Charge for outgoing wire transfers to a destination within the United States. Service available for account holders only. |
| Wire Transfer - Foreign | $45.00 | Charge for outgoing wire transfers to a destination outside of the United States. Additional charges may apply depending upon destination. Service available for account holders only. |
| Wire Transfers - Incoming | $10.00 | Each incoming domestic or foreign wire transfer. |
Transaction limitations:
After the account is opened, you may not make deposits into the account until the maturity date. Withdrawals are permitted subject to the early withdrawal penalty described below.
Early withdrawal penalty:
If you withdraw any of the principal before the maturity date, a penalty equal to 90 days of interest will be charged to your account, whether earned or not. This penalty is waived in the event of the death or adjudication of incompetence of the account holder. Interest which has been credited to the account since the later date of account opening, renewal or interest rate endorsement may be withdrawn at any time without penalty.
Renewal policy:
This account will renew automatically at maturity to a 19 Month CD at the interest rate then in effect for this classification of account. You will have a grace period of ten (10) calendar days after the maturity date to withdraw funds without penalty.
All other disclosure information is included in the Disclosure and Agreement for Certificates of Deposit, into which this Disclosure of Terms is incorporated by reference.