Terms from six months to ten years are available. For certificates with non-standard terms, the rate of interest would be the published rate for the closest shorter term. Earnings A fixed rate certificate account will receive earnings based on the rate of interest established on the opening day for the initial term of the certificate. Interest is credited quarterly on fiscal quarters for the 91 day and six-month certificates and on calendar quarters for one to ten year certificates. In addition, one to ten year certificates credit any accrued interest accumulated from the last quarter to the date of maturity.
All certificate accounts earn daily compounded interest, unless otherwise stated.
The Annual Percentage Yield assumes interest remains on deposit until maturity. A withdrawal will reduce earnings. The term of any renewal period is stipulated in the certificate. The rate of earnings for any renewal term shall be at the rate the Bank is paying at that time on new accounts of this class. Penalty Clauses 91 day certificate.