The interest rate will be paid until the maturity date of your certificate, except for 18 Month Variable Rate Certificates or if you select the Excel-A-Rate Option.
Additions to 18 Month Variable Rate Certificates are permitted in any amount at any time. Interest rate and annual percentage yield may change at any time at our discretion.
Interest is compounded daily and will be credited monthly. Interest for Jumbo certificates will only be credited at maturity.
Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
All certificates will automatically renew at maturity. Except for Jumbo certificates, you will have seven (7) calendar days from the maturity date to withdraw funds without being charged a penalty. Jumbo certificates do not have a grace period and funds may only be withdrawn without a penalty on the maturity date.
After the certificate is opened, you may not make deposits (except for 18 Month Variable Rate Certificates where deposits are permitted) or withdrawals other than earnings until the maturity date.
Interest can accumulate for compounding or be withdrawn by interest check or transferred to another deposit account.
We use the daily balance method to calculate the interest on your certificate. This method applies a daily periodic rate to the principal each day.
IRA Certificates of Deposit are available in terms ranging from one year through five years.
If any of the deposit is withdrawn before the maturity date, a penalty as shown below will be imposed which could result in a partial loss of principal.
