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This account is an interest bearing account. The interest rate and annual percentage yield are included in the Rate Schedule. The interest rate/tier and annual percentage yield may change daily. The interest rate and annual percentage yield depend upon the applicable rate tier. The interest rate of the applicable tier will apply to the entire daily balance in the account.
Interest begins to accrue on the business day of your deposit. Interest is compounded and credited monthly on the last business day of the month.
Banking Regulations limit third party transactions (check, or similar order), or pre-authorized transfers (including overdraft transfers/sweeps) or transfers made by personal computer (including online banking) or telephone (including facsimile or data transmission) funds transfers to your other accounts to six (6) each statement. If you routinely exceed more than six (6) such transfers, we need not honor the item. If you exceed these withdrawal limitations, the bank may close the account and place the funds in another account that you are eligible to maintain, or we may take away the transfer and draft capabilities. Transfers or withdrawals made in person, by messenger or mail are unlimited.
Commercial Money Market accounts can be linked to Commercial Checking accounts for automatic sweeps to cover funds debited from the Commercial Checking if the balance falls below $500.00
This account is an interest bearing account. The interest rate and annual percentage yield are included in the Rate Schedule. The interest rate and annual percentage yield will not change for the term of the Certificate of Deposit unless you exercise the one-time rate Bump Up option. You must maintain a minimum balance of $1,000.00 to obtain the disclosed annual percentage yield. The annual percentage yield assumes interest remains on deposit until maturity. A withdrawal will reduce earnings. Interest begins to accrue on the business day of your deposit. Interest is compounded and credited monthly on the last business day of the month for CDs with a maturity of one year or more. Interest is compounded and credited at maturity for CDs with a maturity of less than one year.
The rate for each renewal term will be determined by the Bank on or just before the renewal date. You may call us on or after the maturity date and we can tell you what the interest rate will be for the next renewal term.
During the term of a 1, 2, 3 or 5 year Certificate of Deposit (CD), opened or renewed on or after August 10, 2015, you may choose to Bump Up (adjust) the interest rate to the prevailing interest rate for the same maturity CD without changing the maturity date or incurring a penalty. The Bump Up option can only be exercised once during the term of the CD.
*APY = Annual Percentage Yield
Presidential Bank reminds you that firstname.lastname@example.org is NOT a secure means of communication. Please refrain from including personal information such as account numbers, Tax ID/Social Security numbers, passwords, etc. We encourage you to maintain contact with us through our Secure Email service, located within Personal Online Banking. Help us keep YOUR personal information PRIVATE!
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