TERM |
$500.00
- $9,999.99
|
$10,000
- $24,999.99
|
$25,000-
$74,999.99 |
$75,0000+ |
| |
|
|
|
|
|
A.P.R**
|
A.P.Y.
* |
A.P.R**
|
A.P.Y.
* |
A.P.R**
|
A.P.Y.
* |
A.P.R**
|
A.P.Y.
* |
| 3 MONTHS |
.30% |
.30% |
.35% |
.35% |
.399% |
.40% |
.449% |
.45% |
| 6 MONTHS |
.499% |
.500% |
.549% |
.55% |
.599% |
.60% |
.649% |
.65% |
| 12
MONTHS |
.95% |
.95% |
1.00% |
1.00% |
1.05% |
1.05% |
1.10% |
1.10% |
| 24
MONTHS |
1.45% |
1.45% |
1.50% |
1.50% |
1.55% |
1.55% |
1.60% |
1.60% |
| 36
MONTHS |
2.05% |
2.05% |
2.10% |
2.10% |
2.15% |
2.15% |
2.20% |
2.20% |
| 48
MONTHS |
2.15% |
2.15% |
2.20% |
2.20% |
2.25% |
2.25% |
2.30% |
2.30% |
| 60
MONTHS |
2.50% |
2.50% |
2.55% |
2.55% |
2.60% |
2.60% |
2.65% |
2.65% |
Why is the APY different than the APR on certain Certificates?
The APY stands for annual percentage yield. Since some of our certificates will not mature on an exact 12 month term, there is a difference between the APR and APY. The APR stands for annual percentage rate. This is the rate at which your certificate will earn dividends each maturity period. The APY is typically higher since the calculation behind it assumes the certificate will mature in a term evenly divisible by 12. If your 6 month certificate earns an APY of 4.00%, the calculation for APY assumes you would earn two payments of dividend at two 6 month intervals, thus creating a higher earning APY.
Note on IRA Certificates
Funds cannot be added to the certificate during the term. If
you withdraw your funds early you will have to pay a penalty of 90 days of dividends up to 24 months or 180
days of dividends over 24 months, except for members age 59 ½ and older.
You will be notified one month prior to its maturity.
You will have up to seven business days after the maturity
date to decide whether to renew the certificate at the same term and present rate, or transfer the funds back to your IRA Share account.
Once
you have decided what the best option is for you, the next
step is to stop into one of our branches. If you have questions
always feel free to e-mail us. There is no better time to save money for your
retirement and Experience the Difference with TobyFCU.
*
Annual Percentage Yield
** Annual Percatage Rate
***RATES SUBJECT TO CHANGE WITHOUT NOTICE***
|
