Installment Account

Interest bearing savings plan where you set your own term
and make deposit of fixed amount



Terms:
12 - 36 months
Minimum Balance to Open the Account:
Varies depending on contract terms
Minimum Balance to Obtain Disclosed APY:
Rate Information:
Compounding Frequency:
Interest Crediting Frequency:
Early Withdrawal Penalties:
A penalty equal to three (3) months simple interest on the amount withdrawn will be imposed for withdrawals made before maturity. 
Transaction Limitation:
  • Withdrawals during the term will be considered Early Withdrawals. A penalty may be imposed for withdrawals made before maturity.
  • Monthly deposits must be made on the date originally scheduled; otherwise the contract amount at maturity will not be the same as the original contract amount.
  • If you stop making deposit for two months from any of the scheduled deposit date, the account may be converted to a Regular Savings. 
Non-Automatically Renewable Time Deposit:
This account will not automatically renew at maturity. If you do not withdraw at maturity, the account will be converted to a Regular Savings Account unless other instructions are received from you.
Renewal of Time Deposit:
Balance Information:
Accrual of Interest on Noncash Deposits:
Renewal:
Daily Balance Computation Method:
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