Withdrawal of Interest Prior to Maturity Clause Samples
The 'Withdrawal of Interest Prior to Maturity' clause defines the rules regarding whether and how interest earned on a deposit or investment can be accessed before the agreed-upon maturity date. Typically, this clause outlines if partial or full withdrawal of accrued interest is permitted, under what conditions, and any penalties or restrictions that may apply. For example, it may allow periodic interest withdrawals or prohibit any access until maturity. Its core function is to clarify the rights of the account holder and the obligations of the financial institution, thereby preventing misunderstandings and managing expectations about early access to earned interest.
Withdrawal of Interest Prior to Maturity. The APY is based on an assumption that interest will remain in the CD until maturity. A withdrawal will reduce earnings. Earned interest may be withdrawn monthly without penalty by way of payment to you or by way of transfer to another one of your accounts at the Credit Union.
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.
Withdrawal of Interest Prior to Maturity. The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. Automatically renewable time account – This account will automatically renew at maturity. You may prevent renewal if you withdraw the funds in the account at maturity (or within a 10 calendar day grace period) or we receive written notice from you. We can prevent renewal if we mail notice to you at least 30 calendar days before maturity. If either you or we prevent renewal, interest will not accrue after final maturity. Each renewal term will be the same as the original term except the following term specials will automatically renew at a new term, all beginning on the maturity date. RATE CHART Product Name Interest Rate Annual Percentage Yield Fixed Rate Certificate Term: Daily balances of $10.00 or more % % PLEASE SEE THE ATTACHED RATE SHEET FOR RATE INFORMATION. IF YOU RECEIVE THIS DISCLOSURE AT THE TIME YOU ARE INQUIRING ABOUT A WASHINGTON SAVINGS BANK CERTIFICATE OF DEPOSIT, THE FOLLOWING INFORMATION APPLIES: Interest rates and Annual Percentage Yield are current as of : 12 Month 18 Month 24 Month 36 Month 48 Month 60 Month Other: Original Term Renewal Term 7 Month CD 6 Month CD This is a passbook format account. Compounding Frequency - Continuously for terms of 9 months or more. True simple interest under 9 months. Crediting Frequency - Interest will be credited to your account every month. Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest Minimum Balance to Open/Renew Account - Certificates require a balance of at least $500.00. Minimum Balance to obtain the annual percentage yield disclosed - Certificates require a balance of at least $10.00. 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.
Withdrawal of Interest Prior to Maturity. The APY set forth in the Rate Schedule is based on an assumption that interest will remain in the Account until maturity. A withdrawal will reduce earnings. Interest accrued during any month may be withdrawn during that month without penalty. At the end of any month, if you elect to have interest retained in the Account rather than paid into another eligible account, any subsequent withdrawal of interest will be subject to early redemption penalties.
Withdrawal of Interest Prior to Maturity. You may withdraw any accrued or credited interest during the term prior to maturity without penalty. The APY assumes that the interest remains on deposit until maturity. A withdrawal will reduce earnings.
Withdrawal of Interest Prior to Maturity. The APY is based on an assumption that interest will remain in the CD until
Withdrawal of Interest Prior to Maturity. The APY determined and disclosed on a CD assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.