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School Supply Drive
July 19-August 7
Donations Accepted
at any FCB Location
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Certificate of Deposit
Top Rates While Keeping Your Money FDIC Insured!
A $1,000.00 opening deposit is all that is needed to get this account started. Bonus interest rates are available for depositors with a 49er Checking Account or Mini-Jumbo and Jumbo deposits.
Interest earned on the certificates can be compounded quarterly, credited to an FCB account (monthly or quarterly), or mailed to you by check (monthly or quarterly).
Terms Available
- 1 month (1 month-181 days)
- 6 month (182-364 days)
- 1 year (12-23 months)
- 2 years (24-35 months)
- 3 years (36-59 months)
- 5 years (60-83 months)
- 7 years (84 months)
- Various “Special terms”
Rate Information:
These accounts are interest-bearing accounts. The interest rate and annual percentage yields are included in the Rate Chart. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example-checks).Interest will be compounded quarterly and credited to that account quarterly. The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
Balance Information:
We use a daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. You must maintain a minimum balance of $0.01 in the account each day to obtain the disclosed annual percentage yield.
Limitations:
A minimum opening deposit of $1000.00 is required to open this account. Additional deposits and withdrawals are not permitted until the maturity date of the account.
Early Withdrawal Penalties:
If you withdraw any of the principal before the maturity date, we may impose a penalty of 3 months simple interest on the amount withdrawn if the term of the certificate is 12 months or less. If the term of the certificate is 12 months, the penalty will be 12 months simple interest on the amount withdrawn. Any interest that has compounded becomes part of the principal and the same penalty applies for withdrawals of compounded interest.
Additional Time Account Information:
If the interest rate and annual percentage yield on your certificate includes a 49er or Super Special bonus rate, the checking account which qualified the certificate for a bonus rate must remain open for the term of the certificate. If the account is closed, the certificate interest rate and annual percentage yield will be lowered by the amount of the bonus.
If the certificate is lost, stolen, or destroyed, an indemnity bond will be required. In certain circumstances, we may issue the indemnity bond. If we issue the indemnity bond, the charge is the greater of $45.00 or ½% of the value of the certificate.
You must tell us which kind of account you want before the account is opened. If you select your account to automatically renew, your account will automatically renew at maturity. You will have 10 days after the maturity date to withdraw funds without a penalty. If you do not select the automatic renewal option, the account will not renew at maturity. If you do not renew the account, your funds will remain in the account and earn no interest.
Certificates of Deposits require that interest is compounded or paid at least annually.
Temporary Liquidity Guarantee Program
FCB Banks is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through December 31, 2010, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules.
On July 21, 2010, FDIC insurance coverage was permanently raised to $250,000. The FDIC insurance limit applies per depositor, per insured depository institution for each account ownership category.
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