Floating Rate CD

 

This two year certificate allows the interest rate to rise with the Wall Street Journal Prime Rate however, the rate will never fall below the initial interest rate and annual percentage yield.

Requirements or Features

  • $10,000.00 Minimum Opening Balance
  • 2-year term
  • Automatic renewal
  • Interest compounded daily and paid monthly, quarterly, semi-annually, annually, or at maturity.

Service Fees

  • No service fees
    Restrictions: Penalties for early withdrawal.1 Balance may not fall below $10,000 during two year term
    FDIC Insured

 

Disclosure Information

1. Withdrawal of funds from a time deposit prior to maturity are subject to penalties; Seven (7) days interest on the amount withdrawn if the withdrawal is made within the first six (6) days after the deposit. Time Deposits with an original maturity of one year or less are subject to one month's interest penalty; Time Deposits with an original maturity of more than one year are subject to three months interest penalty.Upon death or "judicially declared incompetent" of any owner of a time certificate of deposit, whether or not named on the deposit instrument, withdrawals can be made before maturity without forfeiture of interest.