Certificates of Deposit
A great way to save money is by way of Certificates of Deposits.
Types of Certificates offered:
- 1 Month Certificate
- 3 Month Certificate
- 6 month Certificate
- 1 Year Certificate
- 1 ½ Year Certificate
- 2-4 Year Certificate
- 5 Year Certificate
Requirements
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2 forms of ID required to open account ( 1 must be a photo ID)
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$1,000.00 minimum balance required to open
Benefits
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Compounding and Crediting Interest. Interest will be compounded and credited to your account monthly.
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Free TeleWeb
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FreeTelabank
Costs
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APY (Annual Percent Yield) is based on monthly compounding
- Substanial penalty for early withdraw
- 10 day grace period to cash in a certificate
- Interest will begin to accure on the business day you deposit non cash items ( Ex. checks)
Features
- Daily Balance: The amount of principal in the account each day.
- The Average Daily Balance is calculated by adding the principal in the account each day of the period and dividing that figure by the number of days in that period.
- The interest rate and annual percentge yield may change after account opening.