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Rate Information (fixed rate account)
- The interest rate and annual percentage yield on your account
is fixed. You will be paid this rate until first maturity. |
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Compounding frequency - Unless
otherwise paid, interest will be compounded at maturity. |
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Crediting frequency - Interest
will be credited to your account at maturity. Alternatively, you may
choose to have interest paid to you by check or to another account
monthly or quarterly rather than credited to this account. |
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Minimum balance to open the account
- You must deposit $1,000.00 to open this account. Generally,
a CD of $100,000.00 or more will be entitled to a higher rate. |
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Daily 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. |
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Accrual of interest on noncash deposits
- Interest begins to accrue on the business day you deposit noncash
items (for example, checks). |
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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 cannot withdraw interest from your account before maturity
unless, at account opening, you arrange to have interest paid to you
by check or credited into another account with us. |
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Early withdrawal penalties (a penalty may
be imposed for withdrawals before maturity) - |
- If your account has an original maturity of less than 12
months: The fee we may impose will equal one months interest on
the amount withdrawn subject to penalty.
- If your account has an original maturity of 12 months or more:
The fee we may impose will equal three months interest on the
amount withdrawn subject to penalty.
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In certain circumstances such as the death or incompetence of an
owner of this account, the law permits, or in some cases requires,
the waiver of the early withdrawal penalty. See your plan disclosure
if the account is part of an IRA or other tax qualified plan. For
any time deposit which earns an interest rate that may vary from
time to time during the term, the interest rate we will use to
calculate this early withdrawal penalty will be the interest rate in
effect at the time of the withdrawal. |
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Automatically renewable time account
- This account will automatically renew at maturity. You may prevent
renewal if you withdraw the funds in the account at maturity (or
within the grace period mentioned below, if any) or we receive
written notice from you within the grace period mentioned below, if
any. We can prevent renewal if we mail notice to you at least 30
calendar days before maturity. If either you or we prevent renewal,
interest will not accrue after final maturity. 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 ten calendar days after maturity to withdraw the finds
without a penalty. |
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