You deposit a fixed amount every month, for a pre- determined period of time (1 year thru 5 years) into your max club Account. When your max club account reaches maturity, your combined principal and interest balance will approximate your desired maturity value. Failure to make deposits on the due date will reduce matured value.
Minimum amount to open this account: You must deposit the first month's fixed deposit amount
Monthly deposit amount cannot exceed fixed deposit amount appearing on Time Certificate
The interest rate and Annual Percentage Yield will not change for the term of the account.
Compounding and crediting frequency: Interest will be compounded daily. Interest will be credited to your account quarterly
Minimum balance to obtain the annual percentage yield disclosed: You must make regularly scheduled monthly deposits to obtain the disclosed APY (Annual Percentage Yield)
Daily balance computation method: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day
Accrual of interest on non-cash deposits (for example, check): Interest begins to accrue on the business day you deposit
Transaction limitations: You may not make any transfers from this account to another account of yours or to third parties by preauthorized, automatic, or telephone transfers or similar order to third parties. If any withdrawal is made from this account, this account will be closed
No partial withdrawal allowed.
Penalty for early account closing: 30 days interest if less than 6 months term, 90 days interest if greater than 6 months term.
Interest will not accrue after Maturity
For additional fees, see Miscellaneous Fees and Charges
- For complete listing of services, rates, fees, and restrictions, please contact any customer service representative.