· $100 minimum is required to purchase a Certificate of Deposit.
· The term of a CD is three months and will earn the current annual interest rate of 1%, compounded on each maturity date.
· Withdrawing money from your CD before the maturity date will result in no interest being earned and a service fee charge of $2. No partial withdrawals are permitted without penalty.
· After three months you may cash in, add to, or renew your CD. If you have not contacted the bank within one week after your maturity date, your CD will automatically be renewed and the above rules will apply.
· There is no deposit limit on this account.