7 MONTH PROMOTIONAL CD TERMS
ELIGIBILITY REQUIREMENTS
At least 51% of the funds used to open the Certificate of Deposit must come from an institution other than First National Bank of Granbury.
RATE INFORMATION
The interest rate on your account is 4.25% with an annual percentage yield of 4.30%. You will be paid this interest rate until maturity.
COMPOUNDING AND CREDITING
Interest will not be compounded and will be credited to the account at maturity. The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. If you close your account before interest is credited, you will receive the accrued interest.
MINIMUM BALANCE REQUIREMENTS
You must deposit $1,000.00 to open this account.
BALANCE COMPUTATION METHOD
We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.
ACCRUAL ON NONCASH DEPOSITS
Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
TRANSACTION LIMITATIONS
You may not make deposits into your account until the maturity date. You may not make withdrawals of principal from your account before maturity. You may withdraw interest accrued in the term before maturity of that term but a penalty may be imposed.
MATURITY DATE
Your account will mature 12/31/2099.
EARLY WITHDRAWAL PROVISIONS
We may impose a penalty if you withdraw any or all of the principal before the maturity date. The fee imposed will equal 1 month of interest. We will impose a penalty of seven days interest if the withdrawal is made within the first six days after the deposit. The interest rate we will use to calculate the interest forfeiture will be the interest rate in effect at the time of the withdrawal.
RENEWAL POLICIES
Your account will automatically renew at maturity. You will have a grace period of 10 calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.
This account will not renew if you withdraw the funds on the maturity date or if we receive written notice from you on or before the maturity date of your intention not to renew. We can prevent renewal if we mail notice to you at least thirty calendar days before maturity. If either you or we prevent renewal, interest will not accrue after final maturity. Each renewal term following the original term will be a 6 month term, beginning on the maturity date. All terms will be equal to a 6 month certificate of deposit at the time of renewal.
FEES AND CHARGES
Please refer to the separate Fee Schedule provided to you with this disclosure for information about fees and charges associated with this account. A Fee Schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.