Certificates of Deposit. The purchase price of a certificate of deposit (a “CD”) is treated as its fair market value on the purchase date if (1) the CD has a fixed interest rate, a fixed payment schedule, and a substantial penalty for early withdrawal, (2) the Yield on the CD is not less than the Yield on reasonably comparable direct obligations of the United States, and (3) the Yield is not less than the highest Yield published or posted by the CD issuer to be currently available on reasonably comparable CDs offered to the public.
Certificates of Deposit. (1) Minimum to Open: Please refer to the accompanying Schedule of Fees and Service Charges for the minimum balance to open, maintain, or renew a Certificate of Deposit (“CD”). Additional deposits to CDs are not permitted during the term of a CD.
Certificates of Deposit. If your account is a certificate of deposit, your deposit will begin to earn interest on the day of deposit.
Certificates of Deposit. You will be paid the disclosed rate and APY for the term of your certificate of deposit.
Certificates of Deposit. The purchase of certificates of deposit with fixed interest rates, fixed payment schedules and substantial penalties for early withdrawal will be deemed to be an Investment purchased at its Fair Market Value on the purchase date if the Yield on the certificate of deposit is not less than:
Certificates of Deposit. (CD) (Term Share Accounts).
Certificates of Deposit. Certificates of deposit, time deposits, bankers’ acceptances, and other short-term debt obligations issued by commercial banks and certificates of deposit, time deposits, and other short-term obligations issued by savings and loan associations (“S&Ls”), except that investments will not be made in obligations issued by a commercial bank or S&L unless:
Certificates of Deposit. Investments in certificates of deposit maturing within one year from the date of acquisition from any one or more of the top 000 xxxxxxxxxx xxxxx xx xxx Xxxxxx Xxxxxx;
Certificates of Deposit. Unless expressly permitted under the terms of the certificate, no deposits are permitted after the initial deposit except at time of renewal. Withdrawals may be subject to penalties.
Certificates of Deposit. Interest begins to accrue on the business day FSB receives your deposit and records that deposit on its records at FSB’s headquarters office in San Antonio,Texas. Interest is calculated on a monthly basis. If interest is reinvested, it will be credited and compounded on a monthly basis. FSB uses the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the balance in the account for each day. For fixed rate certificates, the interest rate will not change throughout the term of your certificate. For adjustable rate certificates, the interest rate remains in effect for the term of your certificate unless you exercise your one-time option to adjust the rate. After you exercise your one-time option to adjust the rate, the interest rate will be equal to the current rate for a new adjustable rate CD for the same term. See the Account Schedule for the maximum interest rate increase over your original rate. Processing Transactions – Deposits and Cashed Items Deposits are not accepted by FSB until received and entered on FSB’s records at FSB’s headquarters office in San Antonio, Texas. Transactions are not completed until FSB completes its processing of them at its headquarters office in San Antonio, Texas, even though FSB may provide you with provisional credit.
