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State Bank Certificates of Deposit are available to both commercial
and private investors who want competitive yields with minimum
risk. For those individuals on a fixed income, interest payments
from Certificates of Deposit can increase their annual earnings.
Interest disbursements from CD's can be customized to fit
specific needs.
Maturities range
from one month to five years. Interest on a CD is fixed until
its maturity. Payments of interest, which may depend on the
amount and/or term of the CD, can be paid as often as monthly,
in the form of a check, a transfer to another deposit account,
or compounded to the CD's principal (which allows interest
to be earned on the interest). A higher annual percentage
yield is sometimes available for a CD in excess of $50,000.
CD's do not incur
service charges. Interest is paid on the deposited funds,
unlike Treasury Bills, Treasury Notes and Stock, all of which
have fees attached (maturity fees, annual fees, transfer fees,
etc.).
The automatically
renewable feature of Home State Bank CD's permits customers
to keep the original certificate, avoiding the inconvenience
of acquiring a new CD at each maturity date.
A minimum deposit
of $1,000 is required for a CD.
A substantial interest
penalty applies to an early withdrawal.
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A Higher Learning
Fund is a savings plan that helps parents and grandparents
save for the future educational needs of their children and
grandchildren. The account is unique--it earns a high rate
of return without requiring a large minimum deposit. A Higher
Learning Fund can be opened with a $50 deposit and no required
regular deposit thereafter. The frequency and amounts of contributions
are completely up to the account holder. A Higher Learning
Fund pays one of the hightest interest rates offered by the
bank. The fund matures when the child graduates from high
school. Ask a Personal Banking Counselor for information on
current annual percentage yields.
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