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Farmers State Bank
91 Day Certificate of Deposit
Rate Information
- For current rate and yield information, please see our Deposit
Rates.
- At our discretion, we may change the interest
rate on your account. We may change the interest rate on your
account at maturity or at renewal.
- The interest rate on your account will never
change by more than 1.00% each week.
Minimum balance requirements
- To open your account you must deposit $500.00.
- To obtain the annual percentage yield disclosed,
you must maintain a minimum balance of $500.00 in the account
each day.
Compounding and Crediting Policies
- Interest will be compounded on a 91
day basis.
- Interest will be credited to your account
on a 91 day basis.
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 principal in the account each day.
Accrual of interest on noncash deposits
- Interest begins to accrue no later than the
business day we receive credit for the deposit.
Transaction limitations
- You may not make deposits into or withdrawals
from this account until the maturity date.
Early Withdrawal Penalties
- We may impose a penalty if you withdraw any
of the deposited funds before the maturity date. The fee imposed
will equal 3 months of interest.
- If you withdraw some of your funds before
maturity, the interest rate for the remaining funds in your account
will be the same as the previous rate.
Renewal Policy
- This account will automatically renew at
maturity.
- You will have 10 business days after the
maturity date to withdraw funds without penalty.
Withdrawal of interest prior to maturity
- The annual percentage yield assumes interest
will remain on deposit until maturity. A withdrawal will reduce
earnings.
Call toll free 1-888-879-2183 or email
us to obtain further information.
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