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Certificate of Deposit Rates

CD Rates Effective Date: August 19, 2020

Account TypeAnnual Percentage Yield (APY)Interest RateCompounding and Payment PeriodMinimum Deposit to OpenMinimum Balance for APY
7-31-Day CD0.01%0.006%Simple @ Maturity$20,000$20,000
91-Day CD0.03%0.025%Simple @ Maturity$2,500$2,500
6-Month CD0.05%0.046%Simple @ Maturity$2,500$2,500
1-Year CD0.10%0.095%Quarterly$500$500
18-Month CD0.10%0.095%Quarterly$500$500
2-Year CD0.15%0.149%Quarterly$500$500
3-Year CD0.20%0.199%Quarterly$500$500
4-Year CD0.25%0.249%Quarterly$500$500
5-Year CD0.30%0.299%Quarterly$500$500
IRA 18-Month CD0.10%0.095%Quarterly$500$500
8-Month Promo CD0.15%0.149%Quarterly$5,000$5,000
Rates and Interest
Rates and annual percentage yield (APY) are subject to change without notice. The annual percentage yield assumes that interest remains on deposit until maturity. An early withdrawal will reduce earnings. Please see the table for the minimum deposit required to open these accounts. You must maintain this minimum balance to earn the annual percentage yield. All available Certificates of Deposit (CDs) may be opened as an Individual Retirement Account (IRA). The stated interest rate is fixed for the term of the Certificate and will be paid until maturity. Interest may be paid by check or transfer to another account, at your option. You will forfeit any accrued interest that has not yet been credited to your account, if the account is closed prematurely. We use the daily balance method to calculate the interest on this account. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue on the business day you deposit any noncash item (for example, checks).

Deposits
Deposits are accepted to all CDs during the grace period. Deposits during the term will only be accepted into the IRA 18 Month CD.

Withdrawals
You may not withdraw any principal from this Certificate before maturity without our consent, which may be withheld; if we permit such a withdrawal, you may have to pay a penalty as follows: A) Where the original maturity of the account is one year or less, the penalty will be forfeiture of 90 days interest on the amount withdrawn, at the nominal (simple interest) rate in effect during the term. B) Where the original maturity of the account is more than one year, the penalty will be forfeiture of 180 days interest on the amount withdrawn at the nominal (simple interest) rate in effect during the term. C) If the withdrawal is within 6 days after the date of first deposit, a minimum of 7 days of interest will be charged as a penalty. You must withdraw funds within the grace period to avoid being charged a penalty. Fees could reduce the earnings on the account.

IRA Exceptions
Early withdrawal penalty exception for IRA CDs are as follows: Customers age 72 or better may withdraw from any IRA CD at any time without penalty. Customers age 59 ½ or better may withdraw from the IRA 18 month CD with no penalty at any time as long as the withdrawal qualifies as a normal distribution.

Renewal
Unless you notify us in writing 30 days before the maturity date, or within the grace period, Certificates of Deposit will automatically renew on the maturity date. The grace period is ten (10) calendar days for CDs with a term greater than 31 days and is three (3) calendar days for CDs with a term 31 days or less. We can prevent automatic renewal if we notify you in writing on or before the maturity date that we do not intend to renew this account. Promotional Certificates of Deposit may renew into a different term. If you close your CD during the grace period, no accrued interest will be paid after the maturity date. We send you a PreRenewal notice prior to renewal. Please read it carefully. We may change the type, term or other feature of your bank CD by giving you notice. If we make a change, we tell you about the change in the Reinvestment notice. See account disclosure for terms and conditions.

Deposit Rates

Deposit Account Rates Effective Date: June 1, 2020

Account TypeAnnual
Percentage
Yield (APY)
Interest
Rate
Compounding
and
Payment Period
Minimum
Deposit
to Open
Minimum Balance
to Avoid Monthly Service Fee
Minimum Balance
for APY
High Yield Money Market0.05%0.046%Monthly$1,000$10,000$10,000
Money Market0.03%0.025%Monthly$1,000$2,500$2,500
High Interest Checking0.03%0.025%Monthly$100$2,500$2,500
0.03%0.025%Monthly$100$2,500$10,000
0.05%0.046%Monthly$100$2,500$50,000
0.08%0.075%Monthly$100$2,500$100,000
Prime Life Checking0.03%0.025%Monthly$100$0$2,500
0.03%0.025%Monthly$100$0$10,000
0.05%0.046%Monthly$100$0$50,000
0.08%0.075%Monthly$100$0$100,000
Health Savings0.05%0.046%Monthly$1$0$1
0.10%0.095%Monthly$1$0$2,500
0.10%0.095%Monthly$1$0$10,000
0.10%0.095%Monthly$1$0$25,000
Statement and Passbook Savings0.05%0.046%Monthly$100$200$1
Junior Banker Statement and Passbook Savings0.05%0.046%Monthly$1$0$1
IRA Savings0.05%0.046%Quarterly$250$0$1
Interest rates on all accounts are set at the bank’s discretion. Interest rates and annual percentage yields may change at any time without notice.

On High Yield Money Market Accounts, if the daily balance is $10,000 or more, the interest rate paid on the entire balance in the account will be 0.046% with an annual percentage yield of 0.05%. If the daily balance falls below $10,000, the interest rate paid on the entire balance in the account will be 0.025% with an annual percentage yield of 0.03%. If the daily balance falls below $10,000, there is a $25 monthly service fee.

Prime Life and High Interest Checking are tiered products that may pay interest according to the following balance tiers: $2,500.00; $10,000.00; $50,000.00 and $100,000.00.

For all accounts you must maintain the minimum required balance in the account each day to obtain the annual percentage yield listed above. We use the daily balance method to calculate interest on the account. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue on the business day you deposit any non-cash items (for example, checks). Accounts closed before the interest payment date will not earn accrued interest for that period.

IRA deposits or withdrawals (with the exception of pre-authorized withdrawals) can be made at any time to the IRA Savings.

Consult your tax or legal professional about the tax benefits applicable to a Health Savings Account.

See Deposit Account Agreement and Disclosures for terms and conditions. Fees may reduce earnings on the account.

©2020 Byline Bank. Member FDIC.