Certificate of Deposit Features Guide
| Interest Rate |
| APY |
0.20% |
| Term Length |
6 Month |
| Minimum Deposit Amount |
$1,000.00 |
| Maximum Deposit Amount |
N/A |
| Balance Requirements |
| Minimum Opening Deposit |
$1,000.00 |
| Minimum Balance to Avoid Fees |
- |
| Minimum Required Balance |
- |
| Fees |
| Early Withdrawal Penalty |
N/A |
| Monthly Maintenance Fee |
N/A |
| Foreign ATM Fees |
N/A |
| Insufficient Funds Fee |
$25.00 |
| Incoming Wires |
N/A
|
| Account Opening |
| Open Online |
Yes |
| Insured by |
F.D.I.C.
|
| Statements |
| Paper Statements |
Yes |
| Online Statements |
Yes |
| Online and Telephone Banking |
| Online Banking |
Yes |
| Telephone Banking |
Yes |
| Mobile Banking |
Yes |
| Deposit Checks with Mobile Device |
Yes |
| Free Bill Pay |
Yes |
| Online Bill Payments Required |
Yes |
Account Description
• $1,000 minimum amount to open an account
• No setup or maintenance fees
• Additional deposits are permitted during the term of the CD.
• Interest is earned daily, credited and compounded monthly.
• Interest begins to accrue on the business day you deposit cash and non-cash items.
• The interest rate will be paid until the maturity date of your certificate.
• The account will automatically renew at maturity. 10 calendar days (grace period) after the maturity date to withdraw the funds without being charged a penalty.
• A penalty may be imposed for withdrawals before maturity:
• For CD’s with terms of less than twelve months, we may impose a penalty equal to three months’ interest on the entire CD amount, rather than the amount withdrawn subject to penalty.
• For CD’s with terms equal to or greater than twelve months, we may impose a penalty equal to six months’ interest on the entire CD amount, rather than the amount withdrawn subject to penalty.
Rate History
|
Date
|
APY
|
|
August 20, 2023
|
0.20%
|
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