Individual Retirement Account
- The interest rate on your account will be paid until the anniversary date of the account.
- Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
- Interest will be compounded and credited to your account quarterly. If you close your account prior to the maturity you will not receive the accrued but un-credited interest.
- The annual percentage yield assumes interest will remain on deposit until maturity. If you close your account or make a withdrawal prior to maturity, a three month penalty may be applied. A withdrawal will reduce earnings.
- This account will automatically renew at maturity. You will have ten (10) calendar days after the maturity date to withdraw the funds without being charged a penalty.
- We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.
- Additional deposits made to your IRA will earn the same interest rate and annual percentage yield that is in effect at maturity.
Last updated on Jul 18, 2013