*Rate Information: The interest rate for your fixed rate CD will be paid until the maturity date. The Annual Percentage Yield (APY) is accurate as of date viewed and assumes interest remains on deposit until maturity and a withdrawal will reduce earnings. Interest is compounded daily.
Frequency of Credit to Account:
(Payment Frequency can be changed at customer request to monthly or annually)
Less than 12 months - At Maturity
12 months or greater - Quarterly
Minimum Balance Requirements: You must deposit $1,000 to open a Certificate of Deposit - CD or IRA CDs. You must deposit $100,000 to open a Jumbo CD.
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 on Non-Cash Deposits: Interest begins to accrue no later than the business day you deposit non-cash items (i.e. checks).
Transaction Limitations: After the account is opened, you may not make deposits into or withdrawals from this account until maturity.
Early Withdrawal Penalty: If the maturity of the time deposit is 31 days or less or any portion thereof, the depositor will forfeit an amount equal to all interest that the principal withrawn would have earned for entire term of CD. Maturity of the deposit is 32 days to 1 year, or any portion thereof, the depositor will forfeit an amount equal to 90 days interest on the amount of principal withdrawn. If the maturity is over one year, the depositor will forfeit an amount equal to 180 days interest on the principal withdrawn. Penalty will be waived if depositor dies or is declared incompetent, or for other reason at our sole discretion.
Renewal Policy: The grace period for the automatically renewing CD is 10 calendar days from the maturity date to withdraw your funds without being charged a penalty. For CDs with terms of less than 31 days, the grace period is 3 calendar days. Changes to the term may be made during the grace period.
Please refer to the Personal Banking Pricing Schedule available at any Amegy Bank Center for additional account and fee information.