|Certificate Term||Minimum Opening Deposit|
|60 Month CD||$1,000.00|
|48 Month CD||$1,000.00|
|36 Month CD||$1,000.00|
|24 Month CD||$1,000.00|
|12 Month CD||$1,000.00|
Balances shown above are the minimum balances required to obtain the Annual Percentage Yield. The Annual Percentage Yield assumes that interest remains on deposit until maturity. Interest will be compounded quarterly and credited quarterly. A withdrawal of interest will reduce earnings. A PENALTY may be imposed for early withdrawal. For current rate information call (641) 444-3226 or X-Press Banking (641)444-4204.
EACH DEPOSITOR IS INSURED TO $250,000
FDIC - FEDERAL DEPOSIT INSURANCE CORPORATION
Interest begins to accrue on the business day you deposit any non-cash item (for example, a check). The Early Withdrawal Penalty will be in the amount equal to:
- ** One (1) months' interest on the amount withdrawn for a time certificate with a term of ONE (1) YEAR or LESS.
- ** Three (3) months' interest on the amount withdrawn for a time certificate with a term of MORE THAN ONE (1) YEAR.
For the SPECIAL 60 MONTH CD, we will pay the original rate until maturity or upon owner's request for a one-time interest rate upgrade. The early withdrawal penalty will be calculated using the rate in effect at the time of the withdrawal.
We use the daily balance method to calculate the interest on this account. This method applies a daily periodic rate to the principal in the account each day.
If not notified within the TEN (10) Day grace period AFTER the maturity date, the certificate will automatically renew for the same term as the original certificate, beginning on the maturity date. No additional deposits may be made to these accounts during the term other than credited interest.