---------------------------- AUTOMATIC RENEWAL
Rate Information - The interest rate on your account is --------------% with an annual percentage yield of --------------%. You will be paid this rate until first maturity.
Compounding frequency - Interest will be compounded every ---------------------- .
Crediting frequency - Interest will be credited to your account every ---------------- .
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 the account - You must deposit $500.00 to open this account.
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 noncash deposits - Interest begins to accrue on the business day you deposit noncash items (for example, checks).
You may not make any deposits into your account before maturity.
You may make withdrawals of principal from your account before maturity only if we agree at the time you request the withdrawal.
You can only withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest any time during the term of crediting after it is credited to your account.
Time requirements - Your account will mature ---------------------------------------------------------------------------------------------------------------------------- .
Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity) -
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. Other exceptions may also apply, for example, if this is part of an IRA or other tax-deferred savings plan.
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 any grace period mentioned below) or we receive written notice from you within any grace period mentioned below. 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, beginning on the maturity date. The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features as the original time deposit.
You will have ten calendar days after maturity to withdraw the funds without a penalty.
---------------------------- SINGLE MATURITY
Non-automatically renewable time account - This account will not automatically renew at maturity. If you do not renew the account, interest will not accrue after maturity.
18-MONTH VARIABLE RATE IRA
Rate Information - The interest rate on your account is --------------% with an annual percentage yield of --------------%. Your interest rate and annual percentage yield may change. Frequency of rate changes - We may change the interest rate on your account at any time. Determination of rate - At our discretion, we may change the interest rate on your account.
Compounding frequency - Interest will be compounded every quarter.
Crediting frequency - Interest will be credited to your account every quarter.
You may make deposits into your account before maturity.
The fee we may impose will equal six months interest on the amount withdrawn subject to penalty.
For any time deposit which earns an interest rate that may vary from time to time during the term, the interest rate we will use to calculate this early withdrawal penalty will be the interest rate in effect at the time of the withdrawal.
2-YEAR FIXED RATE IRA
3-YEAR FIXED RATE IRA
4-YEAR FIXED RATE IRA
Crediting frequency - Interest will be credited to your account ever ---------------- .
The following fees may be assessed against your account and the following transaction limitations, if any, apply to your account.
Check printing - (fee depends on style and quantity of check ordered)
Traveler's checks - $1.00 per $100.00
Replace lost ATM card or debit card - $5.00
An account is dormant if for 365 days you have made no deposits or withdrawals to the account.
Dormant account fee - $5.00
This fee is charged each month.
The categories of transactions for which an overdraft fee may be imposed are those by any of the following means: check, in-person withdrawal, ATM withdrawal, or other electronic means.
Overdraft - each overdraft paid - $25.00 per item
Nonsufficient funds - each - $25.00 per item
Account activity printout - $2.00
Account research - $20.00 per hour plus $1.00 per copy
Stop payments - each - $25.00
Photocopies - $.25
For the bank to manually increase balance on Visa (ATM) card - $2.00
Outgoing - $15.00
Incoming - $5.00
Telephone transfers - live operator - $2.00
Transfers using telephone or internet banking - FREE
Statement reconciliation per hour - $20.00
Process levies or garnishments - $50.00
Drill lock if keys are lost - minimum of $50.00
Replace lost key - each - $5.00
We may require not less than 7 days' notice in writing before each withdrawal from an interest-bearing account other than a time deposit, or from any other savings account as defined by Regulation D. Withdrawals from a time account prior to maturity or prior to any notice period may be restricted and may be subject to penalty. See your notice of penalty for early withdrawal.
Automatic Overdraft Privilege will provide you with the ability to overdraw your account, up to $300.00 for our free checking account and $500.00 for other checking accounts.
As long as your account has been open 30 days and maintained in good standing, defined as: A) Making regular deposits sufficient to cover your transactions; B) Bringing your account to a positive balance - meaning not overdrawn for more than 30 days consecutively - and; C) There are no legal orders outstanding on your account, we will normally honor (pay) your overdrafts up to the limits mentioned above, including our normal Non-Sufficient Funds (NSF) Charge(s).
This "Automatic Overdraft Privilege" is extended to you to provide additional flexibility and convenience in managing your funds, and to provide you with peace of mind knowing your checks will be honored up to your assigned overdraft privilege limit.
This non-contractual courtesy requires no action on your part. You do not have to sign any additional documents and it costs you nothing unless you use the privilege - by initiating checks, electronic funds transfers, or other payment or withdrawal requests for more than you have on deposit in your account. If you maintain your account in good standing and you have need for this "privilege", we will pay your checks up to your assigned limit, and we will charge your account our normal NSF Charge for each item that overdraws your account. We will send you a notice each time an overdraft occurs.
Automatic Overdraft Privilege is another convenience, and another good reason, for banking with First State Bank.
Please read the policy which will further clarify any questions you may have. If you still have questions, do not hesitate to call us at (870) 226-2601.
THANK YOU FOR BANKING WITH First State Bank.
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