Truth In Savings Certificate Of Deposit And Individual Retirement Account
Compounding and Crediting - For accounts with maturities of less than one year, the interest on your account will be compounded at maturity. For accounts with maturities of one year or greater, the interest on your account will be compounded quarterly. For 11 month Internet Exculsive CD interest will be compounded quarterly and the final two months will be compounded at maturity.
Minimum balance requirements - You must deposit $1,000.00 to open this account and receive the stated annual percentage yield. For 11 month Internet Exculsive CD you must deposit $50,000.00 to open this account and recieve the stated APY.
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 full amount of the principal in the account each day.
Transaction limitations - After the account is opened, you may not make deposits into or withdrawals from your account until the maturity date.
Early Withdrawal Penalties - We will impose a penalty if you withdraw any of the deposited funds before the maturity date. The annual percentage yield disclosed assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
Renewal Policy - You will have 10 calendar days after the maturity date to withdraw funds without penalty.
The following fees may be assessed against your account and the following transaction limitations, if any, apply to your account.
| Fees | |
|---|---|
| Check printing | Fee depends on style of check ordered |
| Overdraft (each debit or check paid) | $24.00 |
| Nonsufficient funds (NSF) item (each) | $24.00, NO Max |
| Account research | $10.00 per hour, one hour minimum |
| Account balancing assistance | $10.00 per hour, one hour minimum |
| Stop payments | $25.00 each |
| Dormant fee (no activity for 365 consecutive days) | $5.00 |
| ATM withdrawal, inquiry (Citizens ATMs) | $0 |
| ATM withdrawal, inquiry (non-Citizens ATMs) | $2.00 |
| Photocopy of monthly statement | $1.25 each |
| Photocopy of form 1099, check or deposit item | $1.25 each |
