CDs & IRAs

Certificates of Deposit (CDs)

• Terms and interest rate will be quoted at the time of opening the account.  Interest rate is fixed for the term of the contract. 
• Interest begins to accrue on the business day you deposit noncash items (for example, checks). 
• We use the daily balance method to calculate the interest on your account.  The daily balance method applies a daily periodic rate to the principal in the account each day.
• Interest will be compounded quarterly and will be credited quarterly and at maturity.  Interest may be credited to the certificate, credited to another PremierBank account, or paid by check.
• Annual percentage yield (APY) is based on quarterly compounding.
• Annual percentage yield (APY) assumes interest remains on deposit and is determined based on the current rate and minimum deposit required to open the account.  Fees and/or withdrawal of interest will reduce earnings.
• Withdrawal before maturity may be subject to penalty under law and may result in loss of principal to you. 
• The account may automatically renew at maturity.  At this time the interest rate can change, which will affect the annual percentage yield.
• You will have ten (10) calendar days from the maturity date to withdraw your funds without being charged a penalty.

IRA Passbook

Traditional, Roth, Coverdell Education, SIMPLE, and SEP IRAs are available in Passbook or Savings Certificate forms.  Additional, detailed IRA information is available from any PremierBank customer service representative.

• $50 minimum deposit to open the account.
• Interest rate and annual percentage yield (APY) are variable and may change. 
• Interest will be compounded quarterly and will be credited to your account quarterly.  We use the daily balance method to calculate the interest on your account.  The daily balance method applies a daily periodic rate to the principal in the account each day. 
• Annual percentage yield (APY) assumes interest remains on deposit and is determined based on the current rate and minimum deposit required to open the account.  Withdrawal of interest will reduce earnings. 
• Withdrawal before maturity may be subject to penalty under law and may result in loss of principal to you.
  Specific terms and conditions of each IRA are disclosed under individual IRA contracts.  Refer to contracts for IRS rules and regulations.

IRA Savings CD

Traditional, Roth, Coverdell Education, SIMPLE, and SEP IRAs are available in Passbook or Savings Certificate forms.  Additional, detailed IRA information is available from any PremierBank customer service representative.

• Certificate terms and interest rates are quoted at time of account opening.
• Certificate rate fixed for the term of the contract.
• Certificate IRA account terms are the same as regular Certificates of Deposit.
• Specific terms and conditions of each IRA are disclosed under individual IRA contracts.  Refer to contracts for IRS rules and regulations.
• Interest begins to accrue on the business day you deposit noncash items (for example, checks).
• We use the daily balance method to calculate the interest on your account.  The daily balance method applies a daily periodic rate to the principal in the account each day.
• Interest will be compounded quarterly and will be credited quarterly and at maturity.  Interest may be credited to the certificate, credited to another PremierBank account, or paid by check.
• Annual percentage yield (APY) assumes interest remains on deposit and is determined based on the current rate and minimum deposit required to open the account.  Fees and/or withdrawal of interest will reduce earnings.
• Withdrawal before maturity may be subject to penalty under law and may result in loss of principal to you.
• The account may automatically renew at maturity.  At this time the interest rate can change, which will affect the annual percentage yield.
• You will have ten (10) calendar days from the maturity date to withdraw your funds without being charged a penalty.