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4 Year Certificate of Deposit Account Disclosure

Rate Information

The interest rate on your account is Enter Zip% with an annual percentage yield of Enter Zip%. The term of your account is 4 years.

The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.

Compounding and Crediting

Interest for your account will be compounded daily. Interest will be credited to your account at maturity unless you selected an interest payment option when you opened the certificate. In this instance, interest will be credited to your account and paid based on the interest payment option you selected, as shown on your Certificate of Deposit Customer Receipt.

Note: Interest begins to accrue on the business day you deposit non-cash items (for example, checks).

Minimum Balance Requirements

You must deposit at least $1,000.00 to open this account and maintain this amount in your account each day to obtain the annual percentage yield listed above.

Balance Computation Method

We use the daily balance method to calculate the interest in your account. This method applies a daily periodic rate to the principal in the account each day.

Transaction Limitations

After the account is opened, you may not make any deposits into or withdrawals from your account until the maturity date unless, when you opened your account, you arranged to have the interest paid to you, rather than having it added to the principal balance of your account. In this case, interest credited to your account may be withdrawn based on the interest payment option that you selected.

Early Withdrawal Penalty

Your account balance may not be withdrawn in whole or in part prior to maturity without our consent except where an account owner has died, been judicially declared incompetent, or becomes disabled. In such cases, we will honor a request for withdrawal prior to maturity without penalty. In all other cases, partial withdrawals will not be permitted and any withdrawal prior to maturity will be permitted only with the consent of the Bank at the time the withdrawal is sought. The following penalty will be assessed on the amount withdrawn:

For certificates with a term of one year or less, the penalty will be equal to $25.00 plus 30 days’ interest.

For certificates with a term greater than one year, the penalty will be equal to $25.00 plus 180 days’ interest.

Renewal Policy

This account will renew automatically at maturity. You will have a grace period of seven calendar days after the maturity date to withdraw the funds or change the terms without loss of interest or being charged a penalty.

The Certificate of Deposit will be evidenced by the books and records of the Bank. The amount, interest rate, interest payment option, date of issue, and maturity date of the deposit will be set forth, on the customer copy of the Certificate of Deposit.

Additional Rules and Regulations

The interest reportable on the IRS form 1099 will consist of:

CertificateReportable Interest
All certificates with maturities of 1 year or less or an interest payment option other than at maturityAll interest credited during the calendar year
All certificates with maturities greater than 1 year or with an interest payment option of at maturity (OID Interest)All interest accrued during the calendar year

Your Certificate of Deposit is not transferable except on the books of this institution.