Presidential Bank - Certificates of Deposit

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Regular Certificates of Deposit (CD's) for Branch Customers

Maturities offered: 30, 60, 90 and 182 Days, 1 Year, 2 Years and 5 Years

Minimum deposit to open: $1,000

Interest paid: Yes

Interest credited: Monthly, on last day of month, for maturities of one year or more; at maturity, for shorter maturities

ATM privileges: None

Minimum Balance to Avoid Service Charges: N/A

Checking Privileges: None

Checks Returned: N/A

Penalty for early withdrawal: Yes; early withdrawal penalty equals the amount of interest that would be earned during the number of penalty months shown below at the CD interest rate, on the CD principal amount that is withdrawn before maturity (whether or not such interest has actually been earned).

CD Maturity Penalty

30 to 60 days 30 days

90 to 182 days 3 months

1 years 6 months

2 years 12 months

5 years 24 months

Statement Frequency: None; notice sent prior to maturity

Compounding Frequency: Monthly, for maturities of one year or more; otherwise interest is paid at maturity

Transaction Limits: No withdrawals of principal or additional deposits after the account is opened, except during the grace period.

Special Features: CD renews automatically at maturity. For CDs maturity in 30 days, you must withdraw funds within one day of maturity to avoid penalties. For longer maturities, you have a seven calendar day grace period, beginning on the day of maturity, to withdraw funds without penalty. Interest can be withdrawn at any time once it is credited.

CD Maturity	Penalty
30 to 60 days	30 days
90 to 182 days	3 months
1 years	6 months
2 years	12 months
5 years	24 months