Welcome to Strategic Bank!

Thank you for opening a certificate of deposit with us.

We believe that your account constitutes a solemn financial relationship that requirescertain responsibilities of both parties.

When opening your Certificate, you accept all terms and conditions that govern depositaccounts and the Certificate.

ACCOUNT INFORMATION AND MINIMUM BALANCE REQUIREMENTS
  • The Account requires a minimum opening deposit of $10,000.00 for individuals and $50,000 for entities.
  • Fixed interest rate for the term of the Certificate of Deposit (CD)
  • Guarantees the original investment at the expiration of the term
RATE INFORMATION
  • The Interest Rate and the Annual Percentage Yield (“APY”) for your certificate of deposit account (“CD”) are set forth at account opening.
  • You will be paid that rate until the maturity date of the CD.
  • You must maintain the required daily minimum balance of in your CD to obtain the APY set forth at account opening.
  • Your CD will mature on the Maturity Date set forth at account opening. The APY assumes interest remains on deposit until maturity. A withdrawal will reduce your earnings.
  • COMPOUNDING AND CREDITING – Interest will be compounded and credited to your CD on a monthly basis.
  • If you close your CD before interest is credited, you will not receive the accrued interest.
BALANCE COMPUTATION METHOD
  • We use the daily balance method to calculate the interest on your CD. This method applies a daily periodic rate to the principal in the account each day. We calculate interests based on a 365-day year for retail and commercial CD accounts
TRANSACTION LIMITATIONS
  • After the CD is opened you may not make deposits into or partial withdrawals from this CD until the Maturity Date, except as permitted by applicable Federal or State laws or regulations.
EARLY WITHDRAWAL PENALTY
  • We will impose a penalty if you withdraw the principal or any part thereof before the Maturity Date. Such penalty will be: - 6 months of interest if the Term is of one year or less; and - 9 months of interest if the Term is more than one year. Early withdrawals and penalties will reduce your earnings and may result in loss of principal.
RENEWAL POLICY
  • Your CD will be automatically renewed at maturity. In the event of automatic renewal, interest on the CD will accrue at the Bank’s effective rate for automatic renewals. During the grace period of five days after the maturity date, funds withdrawn will not carry a penalty.