First Federal Savings Bank of Frankfort
Truth in Savings Account Disclosure
9-Month Certificate of Deposit
Deposits are insured by the FDIC up to applicable limits
Rates are subject to change
Disclosure of Interest and Charges
Minimum Balance Requirements
- You must deposit $500 to open this account.
- See previous page for current rate.
- You will be paid this rate until maturity.
Compounding and Crediting
- Interest will be compounded on a quarterly basis.
- The annual percentage yield assumes interest will remain on deposit until maturity.
A withdrawal will reduce earnings.
- Interest will be credited to your account on a quarterly basis and at maturity.
- Interest begins to accrue on the business day you deposit noncash items (for
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.
- You may not make deposits into this account until the maturity date.
- You will be provided with the maturity date in your written account disclosures.
Early Withdrawal Penalty
- We may impose a penalty if you withdraw any of the deposited funds before the maturity date.
- The penalty will equal three month's interest
- The penalty will be assessed only on the amount withdrawn.
- This account will automatically renew at maturity.
- You will have 10 calendar days after the maturity date to withdraw funds without penalty.
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