Certificate of Deposit
|Personal CD product names||Certificate of Deposit||Individual Retirement Account (IRA)|
|Minimum Balance to Open||$1000||$100|
|Terms||7 days to 3 years||365 Days|
|Interest||Simple Interest1||Simple Interest1|
|Renewal||Automatic renewal for the same period||Automatic renewal for the same period|
|Grace Period||Ten (10) days||Ten (10) days|
|Early Withdrawal Penalty||Penalties may vary based on terms.||One (1) month’s interest. Subject to additional penalties by the state and federal governments.|
|Transaction Restrictions||Deposits and withdrawals are not allowed||Contributions and distributions may have certain tax consequences under the Internal Revenue Code sections governing Individual Retirement Accounts and Qualified Retirement Plans. Withdrawal(s) may reduce principle or earnings.|
1 Interest will be paid at maturity or annually, whichever occurs first.
Other restrictions may apply. For further account details, please contact or visit your nearest Pacific City Bank branch representative.