Certificate of Deposit (CD)
Effective Date 05/17/2022 through 05/23/2022
|Term3||3 MO||6 MO||9 MO||18 MO||1 YR||2 YR||3 YR||4YR||5 YR|
|Interest Credited Monthly|
|Interest Credited at Maturity|
|Penalty||2 MO||3 MO||3 MO||6 MO||6 MO||6 MO||6 MO||6 MO||6 MO|
Jumbo CD Rates
|Penalty: 3 MO Interest on All Jumbo Accounts|
PENALTY (WHETHER EARNED OR NOT) based on simple interest rate in effect for the account on early withdrawal date.
Penalty will be waived under certain circumstances.
- Withdrawals of principal are not permitted before maturity without penalty. Interest may be withdrawn after it is credited.
- CD rates are fixed for term of account. Automatic Renewal.
- Interest is compounded monthly and paid monthly; payable at maturity on terms to one year if requested.
- APY based on monthly compounding until maturity. APY assumes interest remains on deposit until maturity; a withdrawal will reduce earnings.
- Additions may only be made during the 10 day grace period and do not adjust the maturity date.
- Accounts closed before interest is credited will receive accrued interest.
- A minimum balance of $500.00 is required to open the account and to obtain the APY. (The minimum to open a Jumbo CD is $100,000.00).
- Withdrawals reducing the balance below the required minimum are treated as an account closeout.
- The daily balance method is used to calculate interest; applies a daily periodic rate to the principal each day.
- Interest begins to accrue on the business day you deposit noncash items (e.g. checks).
- 1RATE=Interest Rate
- 2APY=Annual Percentage Yield
- 3The 42 month CD is not currently offered. Existing accounts will automatically renew for a 42 month term at a rate of 0.25% and APY of 0.25%; 6 month penalty
For More Information Call: (865) 546-0330.