Account Information Schedule - CDs

For All Types of Certificates of Deposit (CDs)

Immediately following is the general account information which applies to all Dollar Bank Certificates of Deposit. Specific variances for each CD are listed below that CD’s name. Some CDs listed may not currently be available. Please review both sections for full disclosure of your CD.

Annual Percentage Yield: The Annual Percentage Yield reflects the current interest rate and the effect of interest compounding. The Annual Percentage Yield assumes that interest will remain on deposit until maturity. A withdrawal of interest will reduce earnings. The interest rate will be fixed for the term of the account. Refer to the current rate chart for the Annual Percentage Yield (APY).

Minimum to Open: The minimum balance required to open and maintain a certificate is $2,500.

Balance for Interest: Interest will be calculated on the daily ledger balance in the account. This method applies a daily periodic rate to the principal in the account each day.

Transaction Limitations: No additional deposits are permitted with this certificate. No principal withdrawals without penalty are permitted until the maturity date and the grace period thereafter.

Maturity Date: The maturity date of this certificate is based on the open date and the term and will be shown on your certificate document.

Automatic Renewal: This certificate will automatically renew upon maturity unless we receive contrary instructions from you. There is a grace period of seven days after the maturity date during which you can redeem your certificate without a penalty. No interest will be earned for this grace period if the certificate is redeemed.

Early Withdrawal Penalty: A penalty will be charged if you withdraw the principal before the maturity date. The penalty for early withdrawal from this certificate will equal the years remaining until maturity (including partial years) multiplied by the principal being withdrawn, multiplied by the difference between the contract rate on the certificate being withdrawn and the rate currently offered on certificates with terms closest to the years remaining until maturity on the certificate is withdrawn. The penalty, however, shall not be less than three month’s simple interest for certificates having terms of 12 months or less and shall not be less than six month’s simple interest for terms greater than 12 months with interest calculated at the contract rate.

PLEASE CLICK HERE TO REFER TO THE “OTHER ACCOUNT FEES” DOCUMENT which is incorporated by reference.

Growth Certificate (Traditional Term)

Compounding and Crediting: Interest on this certificate will compound and be credited annually based on the maturity date. If your term includes a partial year, interest will first be credited at the end of the partial year and then annually thereafter. On six-month certificates, interest will compound at maturity. Interest can only be withdrawn without penalty on the interest crediting date and the seven days thereafter. After this period the interest will become principal and subject to an early withdrawal penalty.

Income Certificate (Traditional Term)

Compounding and Crediting: Interest on this certificate will compound and be credited monthly. Interest can be withdrawn monthly, quarterly, semi-annually, or annually without a penalty.

Bump-Up Certificate (Growth)

Annual Percentage Yield: The Annual Percentage Yield reflects the current interest rate and the effect of interest compounding. The Annual Percentage Yield assumes that interest will remain on deposit until maturity. A withdrawal of interest will reduce earnings. The interest rate will be fixed for the term of the account unless the Bump-Up Option described below is exercised. If the Bump-Up Option is exercised, the interest rate shall be adjusted accordingly and remained fixed for the remaining term of the account.

Early Withdrawal: A penalty will be charged if you withdraw principal or interest before the maturity date. The penalty for early withdrawal from this certificate will equal the years remaining until maturity (including partial years) multiplied by the principal being withdrawn, multiplied by the difference between the original contract rate on the certificate being withdrawn and the rate currently offered on certificates with terms closest to the term remaining to maturity on the certificate being withdrawn. The penalty, however, shall not be less than three month’s simple interest for certificates having terms of 12 months or less and shall not be less than six month’s simple interest for terms greater than 12 months with interest calculated at the contract rate. No withdrawals are permitted for the first eight days after the account is opened.

Bump-Up Option: If rates rise, you can exercise the Bump-Up option once during the term of your certificate, by requesting to adjust the rate to that of a Dollar Bank Certificate with a term equal to the term remaining on the certificate to be adjusted.

Bump-Up Certificate (Income)

Annual Percentage Yield: The Annual Percentage Yield reflects the current interest rate and the effect of interest compounding. The Annual Percentage Yield assumes that interest will remain on deposit until maturity. A withdrawal of interest will reduce earnings. The interest rate will be fixed for the term of the account unless the Bump-Up Option described below is exercised. If the Bump-Up Option is exercised, the interest rate shall be adjusted accordingly and remained fixed for the remaining term of the account.

Compounding and Crediting: Interest on this certificate will compound and be credited monthly. Interest can be withdrawn monthly, quarterly, semi-annually or annually without a penalty.

Rising Rate Certificate

Annual Percentage Yield: The Annual Percentage Yield reflects the contract interest rates and the effect of implied compounding. The Annual Percentage Yield assumes that the interest will remain on the deposit until maturity. A withdrawal of interest will reduce earnings. The interest rates on the certificate will be fixed for the term of the account.

Compounding and Crediting: Interest on this certificate will compound and be credited every 90 days based on the maturity date. Interest can only be withdrawn without penalty on the interest crediting date and the seven days thereafter. After this period, the interest will become principal and subject to an early withdrawal penalty.

Transaction Limitations: No additional deposits are permitted with these certificates. Principal and interest can only be withdrawn without penalty on the interest crediting date (shown on your certificate) and the seven days thereafter. No other principal withdrawals without penalties are permitted until the maturity date and the grace period thereafter.

Early Withdrawal Penalty: A penalty will be charged if you withdraw the principal before the maturity date. The penalty for early withdrawal from this certificate shall equal all accrued interest plus two percent of the principal.

Relationship Certificate (Growth)

Relationship Account Requirement: In order to earn the Annual Percentage Yield on this certificate, a qualified account (Please ask about current qualifying accounts) must be designated during the new account opening. If that account closes during the term of this certificate and no other qualifying relationship account is designated within 14 days of closing then the Annual Percentage Yield will be reduced to the base rate for the remainder of the certificate’s term.

Relationship Certificate (Income)

Compounding and Crediting: Interest on this certificate will compound and be credited monthly. Interest can be withdrawn monthly, quarterly, semi-annually, or annually without a penalty.

Transaction Limitations: Dollar Bank reserves the right to limit the aggregate amount on deposit at any time on this account to $100,000, on a per-customer basis. No additional deposits are permitted on this certificate. No principle withdrawals without penalties are permitted until the maturity date and the grace period thereafter.

Three Month No Penalty Certificate

Compounding and Crediting: Interest on this certificate will compound and be credited at maturity unless a monthly check is requested. Interest will also be credited at year-end if the maturity extends into the following year.

Early Withdrawal: No withdrawals are permitted from this certificate for the first seven days after the account is opened. Withdrawal of the certificate balance after this initial period will be permitted without a penalty. No partial withdrawals are permitted.

CD Ladder Certificate (Growth)

Composite APY: The composite APY reflects the total interest earned based on the average balance over the full term of the CD Ladder assuming all certificates remain on deposit until their respective maturity dates. Therefore, the deposited balance earning interest will decrease as individual certificates mature. As a result, the average balance over the full term of the Ladder will be LOWER than the initial amount deposited.

Annual Percentage Yield: The Annual Percentage Yield reflects the current interest rates and the effect of interest compounding on each certificate. The Annual Percentage Yield assumes that the interest will remain on deposit until maturity. A withdrawal of interest will reduce earnings. The interest rate on each certificate will be fixed for the term of the account.

Compounding and Crediting: Interest on each certificate will compound and credit annually based on the maturity date. For any of the certificates with terms including partial years, interest will first be credited at the end of the partial year and then annually thereafter. On a six-month certificate, interest will credit at maturity. Interest can only be withdrawn without penalty on the interest crediting date and the seven days thereafter. After this period, the interest will become principal and subject to an early withdrawal penalty.

Minimum to Open: The minimum balance required to open and maintain this certificate is $1,000.

Transaction Limitations: No additional deposits are permitted with these certificates. No principal withdrawals without penalties are permitted until the maturity dates and the grace periods thereafter, as discussed below. Initial funds invested in the CD Ladder will be equally apportioned among each Ladder Growth Certificate.

Maturity Date: The maturity date of each certificate is based on the open date and the term detailed above and will be shown on your certificate document.

Automatic Renewal: Unless we receive contrary instructions from you, each certificate will automatically renew upon maturity based upon one of two renewal options selected at account opening. Under the EXTEND renewal option, each certificate will automatically renew into a Ladder Growth Certificate with a term equal to the longest term listed above. Under the GOAL renewal option, each certificate will automatically renew into a Ladder Growth Certificate equal to the time remaining until the goal date unless the goal date has been reached in which case the certificates will renew into the original term length and structure. There is a grace period of seven days after the maturity date during which you can redeem your certificate without penalty. No interest will be earned for this grace period if the certificate is redeemed.

Early Withdrawal: A penalty will be charged if you withdraw the principal before the maturity date. The penalty for early withdrawal from each certificate will equal the years remaining until maturity (including partial years) multiplied by the principal being withdrawn, multiplied by the difference between the contract rate of the certificate being withdrawn and the rate currently offered on certificates with terms closest to the years remaining until maturity on the certificate is withdrawn. The penalty, however, shall not be less than three month’s simple interest for certificates having terms of 12 months or less and shall not be less than six month’s simple interest for terms greater than 12 months with interest calculated at the contract rate.

CD Ladder Certificate (Income)

Compounding and Crediting: Interest on each certificate will compound and credit monthly. Interest can be withdrawn monthly, quarterly, semi-annually without penalty.

Minimum to Open: The minimum balance required to open and maintain this certificate is $1,000.

Maturity Date: The maturity date of each certificate is based on the open date and the term detailed above and will be shown on your certificate document.

Automatic Renewal: Unless we receive contrary instructions from you, each certificate will automatically renew upon maturity based upon one of two renewal options selected at account opening. Under the EXTEND renewal option, each certificate will automatically renew into a Ladder Income Certificate with a term equal to the longest term listed above. Under the GOAL renewal option, each certificate will automatically renew into a Ladder Income Certificate equal to the time remaining until the goal date unless the goal date has been reached in which case the certificates will renew into the original term length and structure. There is a grace period of seven days after the maturity date during which you can redeem your certificate without penalty. No interest will be earned for this grace period if the certificate is redeemed.

Dollar Bank Rate Information: 1-800-242-BANK

ALL FEES SUBJECT TO CHANGE