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*APY = Annual Percentage Yield. APYs accurate as of 11/2/23.
Truth-In-Savings Disclosure:
Rate Information. Please refer to our rate sheet for the interest rate and annual percentage yield (APY) on this account.
The current rate sheet can be found here.
You will be paid this interest rate until first maturity.
Compounding and Crediting. Interest will be compounded semi-annually and will be credited to the account semi-annually.
The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. If you close your account before interest is credited, you will not receive the accrued interest.
Minimum Balance Requirements. You must deposit $5,000.00 to open this account.
You must maintain a minimum daily balance of $5,000.00 in the account each day to obtain the disclosed annual percentage yield.
Balance Computation Method. We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual On Noncash Deposits. Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Deposit(s) Limitations. After the account is opened, you may not make deposit(s) into the account until the maturity date stated on the account.
Withdrawal Limitations. You may make withdrawals of principal from your account before maturity only if we agree at the time you request the withdrawal. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty. You can only withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest anytime during the term after it is credited to your account. We reserve the right to treat any withdrawal which would reduce the balance remaining in the account below the required minimum opening balance or minimum balance to maintain the account as a withdrawal of the entire account balance and to calculate the amount of any applicable early withdrawal penalty accordingly.
Maturity Date. This certificate will mature 12 months from time of opening.
Early Withdrawal Provisions. If we consent to a request for a withdrawal that is otherwise not permitted you may have to pay a penalty. The penalty will be an amount equal to 365 days interest on the amount withdrawn. In certain circumstances, such as the death or incompetence of an account owner, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. Other exceptions may also apply, for example, if this is part of an IRA or other tax-deferred savings plan.
Renewal Policies. Your account will automatically renew at maturity. You will have a grace period of 10 calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.
Each renewal term will be the same as the original term, beginning on the maturity date. Unless we tell you otherwise in writing, the interest rate will be the same we offer on new certificate of deposit accounts on the maturity date which have the same term, minimum balance (if any) and other features as the renewed certificate of deposit account.
You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period, if any) or we receive written notice from you before maturity of your intention not to renew.
Additional Information Regarding Your Account. Final maturity: Interest earned during one term that is not withdrawn during or immediately after that term is added to principal for the renewal term.
Fees and Charges. Please refer to the Fee Schedule provided to you in these Terms for information about fees and charges associated with this account. A Fee Schedule is provided to you at the time you open an account, periodically when fees or charges change, and upon request.
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