CERTIFICATES OF DEPOSIT

Certificates of Deposit are available with terms from 30 days to 24 months.

The customer will choose the term, as well as how and when the interest is paid, at account opening, as long as the choice falls within the guidelines of the Bank concerning that particular type of Certificate of Deposit.

We use the daily balance method to calculate the interest on the account.  This method applies a daily periodic rate to the principal in the account each day.

If you withdraw any of the principal before the maturity date, we may impose an early withdrawal penalty.

Your Certificate of Deposit will renew automatically.  You will have 10 days after the maturity date to withdraw funds without penalty.

Please ask us for more detailed information concerning rates, fees, terms and conditions regarding our Certificates of Deposit.

For rate information please see the rates chart or please call the Bank of Laverne for rate information.