Certificates of Deposit
Terms – 91 day, 182 day, 12 month, 24 month, 36 month, 48 month, 60 month
Earn competitive interest rates that are guaranteed until maturity with a First Texoma National Bank CD. A variety of terms is offered. Interest can be compounded, automatically deposited into your checking or savings account, or mailed to you.
- Minimum Opening Deposit- $1,000.00
- Penalties for early withdrawal – A penalty may be imposed for withdrawals before maturity. If your account has an original maturity of:
- 91 days the fee we may impose will equal one month’s interest on the amount withdrawn subject to penalty.
- 92 days to a year the fee we may impose will equal three month’s interest on the amount withdrawn subject to penalty.
- More than one year the fee we may impose will equal six month’s interest on the amount withdrawn subject to penalty.
- Transaction Limitations – You may not make any deposits into your account before maturity. You may make withdrawals of principal from your account before maturity. There will be a penalty. You can withdraw interest accrued in the term before maturity of that term without penalty.
- Compounding and crediting frequency – Daily balance method used to calculate interest on the account. Interest will be credited to your account monthly, quarterly or at maturity when the maturity is less than one year. Alternatively, you may choose to have interest paid to you by check or credited to another account monthly or quarterly rather than credited to this account.
- CD renewal options
- Automatically renewable – will renew at maturity. You will have 10 calendar days after maturity to withdraw funds without a penalty.
- Non-automatically renewable – will not automatically renew at maturity. If account is not renewed, interest will not accrue after maturity.
- The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.