Diamond Freedom CD

Interest bearing term deposit with flexibility of additional
 deposits and up to six (6) partial withdrawal

12 or 24 months
Minimum Balance to Open the Account:
Minimum Balance to Obtain Disclosed APY:
Rate Information:
The interest rate and Annual Percentage Yield (APY) in effect at account opening will be paid until the maturity date. Please contact any Hanmi Bank branch to learn the current interest rate.
Compounding Frequency:
Interest Crediting Frequency:
Interest is simple interest and will not be compounded. Depositor will have option to choose from quarterly, semiannually, annually or at maturity (for the term one year or less) to receive the interest payment. 
Early Withdrawal Penalties:
  • Early withdrawal penalty applies to partial withdrawals beyond the six (6) allowable penalty-free withdrawals or for account closing during the term. Early Withdrawal Penalty may reduce the principle balance.
  • For the 24-month term, the penalty amount will be equal to three (3) months’ simple interest on the amount withdrawn.
  • For the 12-month term, the penalty amount will be equal to one (1) month’s simple interest on the amount withdrawn.
Transaction Limitation:
  • Additional deposits in increments of $10,000 can be made up to the original opening deposit amount.
  • Partial withdrawals in increments of $10,000 can be made up to six times starting on the 7th day from the account opening without early withdrawal penalty for 12-month term and after six (6) months for 24-month term. 
  • Each partial withdrawal should be made at least 7 days apart to avoid early withdrawal penalty.
  • At least half of the account opening balance must be maintained; otherwise it will be considered as account closing which will be subject to the early withdrawal penalty. 
Non-Automatically Renewable Time Deposit:
Renewal of Time Deposit:
  • This CD will automatically renew at maturity.
  • Each renewal term will be the same as the original term, beginning on the maturity date.
  • The interest rate will be the same we offer on new Certificate of Deposits on the maturity date which have the same features as the original CD account.   
  • You may prevent renewal if you withdraw the funds at maturity (or within the 7 calendar days grace period) or provide us written notice within the grace period.
  • We can prevent renewal by mailing a written notice to you at least 30 calendar days before maturity.
  • If either you or we prevent renewal, interest will not accrue after the maturity. 
Balance Information:
Accrual of Interest on Noncash Deposits:
Daily Balance Computation Method:
The daily balance method will be used to calculate the interest. The method applies a daily periodic rate to the balance in the account each day. 
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