Common use of Certificates of Deposit Clause in Contracts

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.

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 's headquarters office 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 fixed rate certificatescertificates, the interest rate will not change throughout the term of your certificatecertificate. For adjustable rate certificatescertificates, the interest rate remains in effect for the term of your certificate 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 office in San Antonio, Texas. Transactions are not completed until FSB completes its processing of them at its headquarters office office in San Antonio, Texas, even though FSB may provide you with provisional credit.

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 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 fixed rate certificatescertificates, the interest rate will not change throughout the term of your certificatecertificate. For adjustable rate certificatescertificates, the interest rate remains in effect for the term of your certificate 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 office in San Antonio, Texas. Transactions are not completed until FSB completes its processing of them at its headquarters office office in San Antonio, Texas, even though FSB may provide you with provisional credit.