182 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 182 day basis.
- Interest will be credited to your account on a 182 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 us at (785) 543-5199 or email us to obtain further information.
|