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Checking Accounts

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Checking Account Disclosures

Below are the disclosures related to BankFive checking accounts available online. For more information or if you have any questions, please contact us at any time.

eAccess Checking

  • IN-BRANCH BANKING FEE OF $5.00 PER VISIT WILL BE CHARGED PER STATEMENT CYCLE.
  • Rate information - At our discretion, we may change the interest rates for this account. Tier 1 – An interest rate of 0.249% will be paid only for that portion of your daily balance that is $1,000,000.01 or more. The annual percentage yield (APY) for this tier is 0.25%. Tier 2 – An interest rate of 0.249% will be paid on the entire portion of your daily balance that is less than $1,000,000.01, if your daily balance is $10.00 or more. The annual percentage yield (APY) for this tier is 0.25%. The interest rate(s) and annual percentage yield(s) are accurate as of 5/23/2019. If you would like more current rate and yield information, please call us at (774) 888-6100. The interest rates and annual percentage yields may change at any time.
  • Compounding frequency – Interest will be compounded monthly.
  • Crediting frequency - Interest will be credited into this account monthly.
  • Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
  • Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account.
  • Minimum balance to open - The minimum balance required to open this account is $10.00. Maximum deposit to open account is $5,000.00.
  • Minimum balance to obtain the disclosed annual percentage yield - You must maintain a minimum daily balance of $10.00 in your account each day to obtain the disclosed annual percentage yield.
  • Deposit limitations - You may make an unlimited number of deposits into your account.
  • Additional Terms - The following additional terms apply to this account: ATM surcharges from other institutions will be rebated up to $10.00 per statement cycle. It is our policy to pay items in the following order: ACH Clearing: Sequence would go from the largest deposits, followed by the smaller deposits, followed by the small withdrawals, followed by the largest withdrawals. Check Clearing: Sequence would be lowest to highest check amount within the account, the smallest withdrawals will post first and the largest withdrawals last. Fees may reduce earnings. Please refer to the bank's Fee Schedule.

Student Checking

  • Interest is not paid on this account.
  • Account available for ages 16-24; on 25th Birthday, account will be converted to a BankFive eAccess Checking Account
  • Under age 18 must have parent or guardian on account if a debit card is included in application
  • Minimum balance to open - The minimum balance required to open this account is $10.00. Maximum deposit to open account is $5,000.00.
  • Deposit limitations - You may make an unlimited number of deposits into your account.
  • Additional Terms - The following additional terms apply to this account: ATM surcharges from other institutions will be rebated up to $10.00 per statement cycle. It is our policy to pay items in the following order: ACH Clearing: Sequence would go from the largest deposits, followed by the smaller deposits, followed by the small withdrawals, followed by the largest withdrawals. Check Clearing: Sequence would be lowest to highest check amount within the account, the smallest withdrawals will post first and the largest withdrawals last.

Free Checking

  • Interest is not paid on this account.
  • Minimum balance to open - The minimum balance required to open this account is $10.00.
  • Deposit limitations - You may make an unlimited number of deposits into your account.
  • Fees and Charges - The following fees and charges apply to this account:
    • Escheatment Fee: $50.00
    • New Account Close-out fee (within 30 days of account opening): $15.00
  • Additional Terms - The following additional terms apply to this account: It is our policy to pay items in the following order; ACH Clearing: Sequence would go from the largest deposits, followed by the smaller deposits, followed by the smaller withdrawals, followed by the largest withdrawals. Check Clearing: Sequence would be lowest to highest check amount within the account, the smallest withdrawals will post first and the largest withdrawals last. Fees do not apply to individuals 18 years of age and under and 65 years of age and older, except for an insufficient funds fee of $5.00 (when applicable). We do not impose a monthly service charge, or per check fee on this account. Stop payment, check printing, non-proprietary ATM transactions and overdraft fees, etc. will be charged in accordance with the bank's Fee Schedule.

Savings Account Disclosures

Below are the disclosures related to BankFive savings accounts available online. For more information or if you have any questions, please contact us at any time.

eAccess Savings

  • IN-BRANCH BANKING FEE OF $5.00 PER VISIT WILL BE CHARGED PER STATEMENT CYCLE.
  • Rate information - At our discretion, we may change the interest rates for this account. Tier 1 – An interest rate of 1.045% will be paid only for that portion of your daily balance that is $1,000,000.01 or more. The annual percentage yield (APY) for this tier is 1.05%. Tier 2 – An interest rate of 1.045% will be paid on the entire portion of your daily balance that is less than $1,000,000.01, if your daily balance is $10.00 or more. The annual percentage yield (APY) for this tier is 1.05% . The interest rate(s) and annual percentage yield(s) are accurate as of 5/23/2019. If you would like more current rate and yield information, please call us at (774) 888-6100. The interest rates and annual percentage yields may change at any time.
  • Compounding frequency - Interest will be compounded monthly.
  • Crediting frequency - Interest will be credited into this account monthly.
  • Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
  • Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account.
  • Minimum balance to open - The minimum balance required to open this account is $10.00. Maximum deposit to open account is $5,000.00.
  • Minimum balance to obtain the disclosed annual percentage yield - You must maintain a minimum daily balance of $10.00 in your account each day to obtain the disclosed annual percentage yield.
  • Deposit limitations - You may make an unlimited number of deposits into your account.
  • Limitations on frequency of transfers - During any calendar month or statement cycle of at least four weeks, you may not make more than six withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, or by check, draft, debit card (if applicable) or similar order to a third party. If you exceed the transfer limitations set forth above in any statement period, your account will be charged a $10.00 fee for each item in excess of the six, and be subject to closure by the financial institution.
  • Additional Terms - The following additional terms apply to this account: Fees may reduce earnings. Please refer to the bank's Fee Schedule.

Student Savings

  • Rate information - At our discretion, we may change the interest rates for this account. Tier 1 – An interest rate of 0.049% will be paid only for that portion of your daily balance that is $1,000,000.01 or more. The annual percentage yield (APY) for this tier is 0.05% . Tier 2 – An interest rate of 0.049% will be paid on the entire portion of your daily balance that is less than $1,000,000.01, if your daily balance is $10.00 or more. The annual percentage yield (APY) for this tier is 0.05% . The interest rate(s) and annual percentage yield(s) are accurate as of 5/23/2019. If you would like more current rate and yield information, please call us at (774) 888-6100. The interest rates and annual percentage yields may change at any time.
  • Compounding frequency - Interest will be compounded monthly.
  • Crediting frequency - Interest will be credited into this account monthly.
  • Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
  • Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account.
  • Minimum balance to open - The minimum balance required to open this account is $10.00. Maximum deposit to open account is $5,000.00.
  • Minimum balance to obtain the disclosed annual percentage yield - You must maintain a minimum daily balance of $10.00 in your account each day to obtain the disclosed annual percentage yield.
  • Deposit limitations - You may make an unlimited number of deposits into your account.
  • Limitations on frequency of transfers - During any calendar month or statement cycle of at least four weeks, you may not make more than six withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, or by check, draft, debit card (if applicable) or similar order to a third party. If you exceed the transfer limitations set forth above in any statement period, your account will be subject to a $10.00 fee for each item in excess of the six, and be subject to closure by the financial institution.
  • Account available for ages 16-24; on 25th Birthday, account will be converted to BankFive eAccess Savings Account
  • Additional Terms - The following additional terms apply to this account: Fees may reduce earnings. Please refer to the bank's Fee Schedule.

Statement Savings

  • Rate information - At our discretion, we may change the interest rate for this account. The interest rate on this account is 0.049% with an annual percentage yield of 0.05% . The interest rate(s) and annual percentage yield(s) are accurate as of 5/23/2019. If you would like more current rate and yield information, please call us at (774) 888-6100. The interest rate and annual percentage yield may change at any time.
  • Compounding frequency - Interest will be compounded monthly.
  • Crediting frequency - Interest will be credited into this account monthly.
  • Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
  • Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account.
  • Minimum balance to open - The minimum balance required to open this account is $10.00.
  • Minimum balance to obtain the disclosed annual percentage yield - You must maintain a minimum daily balance of $100.00 in your account each day to obtain the disclosed annual percentage yield.
  • Minimum balance to avoid a fee - You must maintain a minimum daily balance of $10.00 in your account to avoid a fee. If your balance falls below $10.00 on any day in the statement cycle, your account will be subject to a $1.00 minimum balance requirement fee for that statement cycle.
  • Deposit limitations - You may make an unlimited number of deposits into your account.
  • Limitations on frequency of transfers - During any calendar month or statement cycle of at least four weeks, you may not make more than six withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, or by check, draft, debit card (if applicable) or similar order to a third party. If you exceed the transfer limitations set forth above in any statement period, your account will be charged a $10.00 fee for each item in excess of the six, and be subject to closure by the Financial Institution.
  • Fees and Charges - The following fees and charges apply to this account:
    • Escheatment Fee: $50.00
    • New Account Close-Out Fee (within 30 days of account opening): $15.00.
  • Additional Terms - The following additional terms apply to this account: Fees do not apply to individuals 18 years of age and under and 65 years of age and over, except for an insufficient funds fee of $5.00 (when applicable). Fees may reduce earnings. Please refer to the bank's Fee Schedule.

High Option Money Market

  • Rate information - At our discretion, we may change the interest rates for this account. Tier 1 - If your daily balance is $50,000.00 or more, the interest rate paid on the entire balance in your account will be 0.149% with an annual percentage yield (APY) of 0.15% . Tier 2 - If your daily balance is $25,000.00 or more, but less than or equal to $49,999.99, the interest rate paid on the entire balance in your account will be 0.099% with an annual percentage yield (APY) of 0.10% . Tier 3 - If your daily balance is $5,000.00 or more, but less than or equal to $24,999.99, the interest rate paid on the entire balance in your account will be 0.099% with an annual percentage yield (APY) of 0.10% . Tier 4 - If your daily balance is $100.00 or more, but less than or equal to $4,999.99, the interest rate paid on the entire balance in your account will be 0.099% with an annual percentage yield (APY) of 0.10% . The interest rate(s) and annual percentage yield(s) are accurate as of 5/23/2019. If you would like more current rate and yield information, please call us at (774) 888-6100. The interest rates and annual percentage yields may change at any time.
  • Compounding frequency - Interest will be compounded monthly.
  • Crediting frequency - Interest will be credited into this account monthly.
  • Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
  • Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account.
  • Minimum balance to open - The minimum balance required to open this account is $100.00.
  • Minimum balance to obtain the disclosed annual percentage yield - You must maintain a minimum daily balance of $100.00 in your account each day to obtain the disclosed annual percentage yield.
  • Deposit limitations - You may make an unlimited number of deposits into your account.
  • Limitations on frequency of transfers - During any calendar month or statement cycle of at least four weeks, you may not make more than six withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, or by check, draft, debit card (if applicable) or similar order to a third party. If you exceed the transfer limitations set forth above in any statement period, your account will be charged a $10.00 fee for each item in excess of the six, and be subject to closure by the Financial Institution.
  • Fees and Charges - The following fees and charges apply to this account:
    • Escheatment Fee: $50.00
    • New Account Close-out Fee (within 30 days of account opening): $15.00
    • Dormant Account Fee (after 2 years of no activity): $5.00 per month
  • Additional Terms - The following additional terms apply to this account: It is our policy to pay items in the following order; ACH Clearing: Sequence would go from the largest deposits, followed by the smaller deposits, followed by the smaller withdrawals, followed by the largest withdrawals. Check Clearing: Sequence would be lowest to highest check amount within the account, the smallest withdrawals will post first and the largest withdrawals last.
  • Fees may reduce earnings. Please refer to the bank's Fee Schedule.

Certificate of Deposit Disclosures

Below are the disclosures related to BankFive Certificates of Deposits available online. For more information or if you have any questions, please contact us at any time.

6 Month CD

  • Rate information - The interest rate on this account is 2.031% with an annual percentage yield of 2.05% . The interest rate(s) and annual percentage yield(s) are accurate as of 5/23/2019. If you would like more current rate and yield information, please call us at (774) 888-6100. You will be paid this rate until next maturity.
  • Compounding frequency - Interest will be compounded monthly.
  • Crediting frequency - Interest will be credited into this account monthly.
  • Time requirements - This account matures 6 months after account opening.
  • Early withdrawals - The penalty we may impose will equal 30 days interest on the principal amount withdrawn. For variable rate accounts, the rate we will use to calculate this penalty will be the rate in effect at the time of withdrawal. In certain circumstances, such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.
  • Withdrawal of interest prior to maturity - The annual percentage yield is based on an assumption that interest will remain in the account until maturity. A withdrawal will reduce earnings.
  • Automatically renewable account - Your account will automatically renew at maturity. Each renewal term will be the same as the original term, beginning on the maturity date. Unless we tell you otherwise in writing, the interest rate will be the same we offer on new certificate of deposit accounts on the maturity date which have the same term, minimum balance (if any) and other features as the renewed certificate of deposit account. You will have a grace period of ten calendar day(s) after maturity to withdraw the funds without being charged an early withdrawal penalty. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period, if any).
  • Final maturity - If your account is not renewed, the funds in your account will be placed in an interest-bearing account.
  • Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
  • Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account.
  • Minimum balance to open - The minimum balance required to open this account is $500.00.
  • Minimum balance to obtain the disclosed annual percentage yield - You must maintain a minimum daily balance of $500.00 in your account each day to obtain the disclosed annual percentage yield.
  • Deposit limitations - After the account is opened, you may not make any deposits.
  • Withdrawal limitations - You may make withdrawals of principal from your account before maturity. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty. You can only withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest anytime during the term after it is credited to your account.
  • Fees and Charges - The following fees and charges apply to this account:
    • Escheatment Fee: $50.00
    • Close-out Fee (prior to maturity date): $30.00
  • Additional Terms - The following additional terms apply to this account: Fees may reduce earnings. Please refer to the bank's Fee Schedule.

1 Year CD

  • Rate information - The interest rate on this account is 0.399% with an annual percentage yield of 0.40% . The interest rate(s) and annual percentage yield(s) are accurate as of 5/23/2019. If you would like more current rate and yield information, please call us at (774) 888-6100. You will be paid this rate until next maturity.
  • Compounding frequency - Interest will be compounded monthly.
  • Crediting frequency - Interest will be credited into this account monthly.
  • Time requirements - This account matures 1 year after account opening.
  • Early withdrawals - The penalty we may impose will equal 90 days interest on the principal amount withdrawn. For variable rate accounts, the rate we will use to calculate this penalty will be the rate in effect at the time of withdrawal. In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.
  • Withdrawal of interest prior to maturity - The annual percentage yield is based on an assumption that interest will remain in the account until maturity. A withdrawal will reduce earnings.
  • Automatically renewable account - Your account will automatically renew at maturity. Each renewal term will be the same as the original term, beginning on the maturity date. Unless we tell you otherwise in writing, the interest rate will be the same we offer on new certificate of deposit accounts on the maturity date which have the same term, minimum balance (if any) and other features as the renewed certificate of deposit account. You will have a grace period of ten calendar day(s) after maturity to withdraw the funds without being charged an early withdrawal penalty. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period, if any).
  • Final maturity - If your account is not renewed, the funds in your account will be placed in an interest-bearing account.
  • Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
  • Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account.
  • Minimum balance to open - The minimum balance required to open this account is $500.00.
  • Minimum balance to obtain the disclosed annual percentage yield - You must maintain a minimum daily balance of $500.00 in your account each day to obtain the disclosed annual percentage yield.
  • Deposit limitations - After the account is opened, you may not make any deposits.
  • Withdrawal limitations - You may make withdrawals of principal from your account before maturity. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty. You can only withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest anytime during the term after it is credited to your account.
  • Fees and Charges - The following fees and charges apply to this account:
    • Escheatment Fee: $50.00
    • Close-out Fee (prior to maturity date): $30.00
  • Additional Terms - The following additional terms apply to this account: Fees may reduce earnings. Please refer to the bank's Fee Schedule.

18 Month CD

  • Rate information - The interest rate on this account is 0.498% with an annual percentage yield of 0.50% . The interest rate(s) and annual percentage yield(s) are accurate as of 5/23/2019. If you would like more current rate and yield information, please call us at (774) 888-6100. You will be paid this rate until next maturity.
  • Compounding frequency - Interest will be compounded monthly.
  • Crediting frequency - Interest will be credited into this account monthly.
  • Time requirements - This account matures 18 months after account opening.
  • Early withdrawals - The penalty we may impose will equal 180 days interest on the principal amount withdrawn. For variable rate accounts, the rate we will use to calculate this penalty will be the rate in effect at the time of withdrawal. In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.
  • Withdrawal of interest prior to maturity - The annual percentage yield is based on an assumption that interest will remain in the account until maturity. A withdrawal will reduce earnings.
  • Automatically renewable account - Your account will automatically renew at maturity. Each renewal term will be the same as the original term, beginning on the maturity date. Unless we tell you otherwise in writing, the interest rate will be the same we offer on new certificate of deposit accounts on the maturity date which have the same term, minimum balance (if any) and other features as the renewed certificate of deposit account. You will have a grace period of ten calendar day(s) after maturity to withdraw the funds without being charged an early withdrawal penalty. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period, if any).
  • Final maturity - If your account is not renewed, the funds in your account will be placed in an interest-bearing account.
  • Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
  • Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account.
  • Minimum balance to open - The minimum balance required to open this account is $500.00.
  • Minimum balance to obtain the disclosed annual percentage yield - You must maintain a minimum daily balance of $500.00 in your account each day to obtain the disclosed annual percentage yield.
  • Deposit limitations - After the account is opened, you may not make any deposits.
  • Withdrawal limitations - You may make withdrawals of principal from your account before maturity. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty. You can only withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest anytime during the term after it is credited to your account.
  • Fees and Charges - The following fees and charges apply to this account:
    • Escheatment Fee: $50.00
    • Close-out Fee (prior to maturity date): $30.00
  • Additional Terms - The following additional terms apply to this account: Fees may reduce earnings. Please refer to the bank's Fee Schedule.

2 Year Investment CD

  • Rate information - The interest rate on this account is 0.647% with an annual percentage yield of 0.65% . The interest rate(s) and annual percentage yield(s) are accurate as of 5/23/2019. If you would like more current rate and yield information, please call us at (774) 888-6100. You will be paid this rate until next maturity.
  • Compounding frequency - Interest will be compounded monthly.
  • Crediting frequency - Interest will be credited into this account monthly.
  • Time requirements - This account matures 2 years after account opening.
  • Early withdrawals - The penalty we may impose will equal 180 days interest on the principal amount withdrawn. For variable rate accounts, the rate we will use to calculate this penalty will be the rate in effect at the time of withdrawal. In certain circumstances, such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.
  • Withdrawal of interest prior to maturity - The annual percentage yield is based on an assumption that interest will remain in the account until maturity. A withdrawal will reduce earnings.
  • Automatically renewable account - Your account will automatically renew at maturity. Each renewal term will be the same as the original term, beginning on the maturity date. Unless we tell you otherwise in writing, the interest rate will be the same we offer on new certificate of deposit accounts on the maturity date which have the same term, minimum balance (if any) and other features as the renewed certificate of deposit account. You will have a grace period of ten calendar day(s) after maturity to withdraw the funds without being charged an early withdrawal penalty. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period, if any).
  • Final maturity - If your account is not renewed, the funds in your account will be placed in an interest-bearing account.
  • Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
  • Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account.
  • Minimum balance to open - The minimum balance required to open this account is $100.00.
  • Minimum balance to obtain the disclosed annual percentage yield - You must maintain a minimum daily balance of $100.00 in your account each day to obtain the disclosed annual percentage yield.
  • Deposit limitations - You may make an unlimited number of deposits into your account.
  • Effect on maturity - The maturity date for this account will remain the same after additional deposits.
  • Withdrawal limitations - You may make withdrawals of principal from your account before maturity. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty. You can only withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest anytime during the term after it is credited to your account.
  • Fees and Charges - The following fees and charges apply to this account:
    • Escheatment Fee: $50.00
    • Close-out Fee prior to maturity date: $30.00
  • Additional Terms - The following additional terms apply to this account: Fees may reduce earnings. Please refer to the bank's Fee Schedule.

3 Year CD

  • Rate information - The interest rate on this account is 0.797% with an annual percentage yield of 0.80% . The interest rate(s) and annual percentage yield(s) are accurate as of 5/23/2019. If you would like more current rate and yield information, please call us at (774) 888-6100. You will be paid this rate until next maturity.
  • Compounding frequency - Interest will be compounded monthly.
  • Crediting frequency - Interest will be credited into this account monthly.
  • Time requirements - This account matures 3 years after account opening.
  • Early withdrawals - The penalty we may impose will equal 180 days interest on the principal amount withdrawn. For variable rate accounts, the rate we will use to calculate this penalty will be the rate in effect at the time of withdrawal. In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.
  • Withdrawal of interest prior to maturity - The annual percentage yield is based on an assumption that interest will remain in the account until maturity. A withdrawal will reduce earnings.
  • Automatically renewable account - Your account will automatically renew at maturity. Each renewal term will be the same as the original term, beginning on the maturity date. Unless we tell you otherwise in writing, the interest rate will be the same we offer on new certificate of deposit accounts on the maturity date which have the same term, minimum balance (if any) and other features as the renewed certificate of deposit account. You will have a grace period of ten calendar day(s) after maturity to withdraw the funds without being charged an early withdrawal penalty. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period, if any).
  • Final maturity - If your account is not renewed, the funds in your account will be placed in an interest-bearing account.
  • Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
  • Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account.
  • Minimum balance to open - The minimum balance required to open this account is $500.00.
  • Minimum balance to obtain the disclosed annual percentage yield - You must maintain a minimum daily balance of $500.00 in your account each day to obtain the disclosed annual percentage yield.
  • Deposit limitations - After the account is opened, you may not make any deposits.
  • Withdrawal limitations - You may make withdrawals of principal from your account before maturity. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty. You can only withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest anytime during the term after it is credited to your account.
  • Fees and Charges - The following fees and charges apply to this account:
    • Escheatment Fee: $50.00
    • Close-out Fee (prior to maturity date): $30.00
  • Additional Terms - The following additional terms apply to this account: Fees may reduce earnings. Please refer to the bank's Fee Schedule.

5 Year CD

  • Rate information - The interest rate on this account is 1.242% with an annual percentage yield of 1.25% . The interest rate(s) and annual percentage yield(s) are accurate as of 5/23/2019. If you would like more current rate and yield information, please call us at (774) 888-6100. You will be paid this rate until next maturity.
  • Compounding frequency - Interest will be compounded monthly.
  • Crediting frequency - Interest will be credited into this account monthly.
  • Time requirements - This account matures 5 years after account opening.
  • Early withdrawals - The penalty we may impose will equal 180 days interest on the principal amount withdrawn. For variable rate accounts, the rate we will use to calculate this penalty will be the rate in effect at the time of withdrawal. In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty.
  • Withdrawal of interest prior to maturity - The annual percentage yield is based on an assumption that interest will remain in the account until maturity. A withdrawal will reduce earnings.
  • Automatically renewable account - Your account will automatically renew at maturity. Each renewal term will be the same as the original term, beginning on the maturity date. Unless we tell you otherwise in writing, the interest rate will be the same we offer on new certificate of deposit accounts on the maturity date which have the same term, minimum balance (if any) and other features as the renewed certificate of deposit account. You will have a grace period of ten calendar day(s) after maturity to withdraw the funds without being charged an early withdrawal penalty. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period, if any).
  • Final maturity - If your account is not renewed, the funds in your account will be placed in an interest-bearing account.
  • Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.
  • Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account.
  • Minimum balance to open - The minimum balance required to open this account is $500.00.
  • Minimum balance to obtain the disclosed annual percentage yield - You must maintain a minimum daily balance of $500.00 in your account each day to obtain the disclosed annual percentage yield.
  • Deposit limitations - After the account is opened, you may not make any deposits.
  • Withdrawal limitations - You may make withdrawals of principal from your account before maturity. Principal withdrawn before maturity is included in the amount subject to early withdrawal penalty. You can only withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest anytime during the term after it is credited to your account.
  • Fees and Charges - The following fees and charges apply to this account:
    • Escheatment Fee: $50.00
    • Close-out Fee (prior to maturity date): $30.00
  • Additional Terms - The following additional terms apply to this account: Fees may reduce earnings. Please refer to the bank's Fee Schedule.