The interest rates and annual percentage yields (APY) may change. We may change the interest rate at any time. All rates are set at the Bank's discretion. If you would like current interest rate and APY information, you may call us at (815) 493-2631.

We use the daily balance method to calculate the interest on all Exchange State Bank Time Certificates using a 365/365-366 day basis. This method applies a daily periodic rate to the principal in the account each day. Interest will begin to accrue on the business day of deposit for all non-cash items.

You have a ten-calendar-day grace period after the maturity date to make any changes or to redeem the certificate. Interest will not be paid after the maturity date if you elect to redeem the certificate. Adding principal to the certificate after the maturity date and within the grace period will constitute a redemption and cause the certificate to be issued using the current date. Compounded interest becomes principal and cannot be withdrawn without penalty.

The interest rate will be in effect until the maturity date. You may not make deposits into your account until maturity. The APY on all certificates except the 5, 6, and 7 year terms assume interest remains on deposit until maturity. A withdrawal will reduce earnings.

FIXED RATE CERTIFICATES OF DEPOSIT
Minimum deposit to open account	Minimum daily balance to earn APY	Certificate term	Interest compounded	Interest credited/paid
$2,500	$2,500	3 months (91 days)	At maturity	At maturity
Interest withdrawal options: By check or deposit to checking or savings account at maturity.
$2,500	$2,500	5 months (152 days)	At maturity	At maturity
Interest withdrawal options: Accounts under $5,000: by check or deposit to checking or savings account at maturity. Accounts $5,000 and over: by check or deposit to a checking or savings account monthly, or at maturity.
$2,500	$2,500	6 months (182 days)	At maturity	At maturity
Interest withdrawal options: Accounts under $5,000: by check or deposit to checking or savings account at maturity. Accounts $5,000 and over: by check or deposit to a checking or savings account monthly, quarterly, or at maturity.
$25,000	$25,000	6 months (182 days)	Quarterly	Quarterly
Interest withdrawal options: By check or deposit to a checking or savings account monthly, quarterly, or at maturity.
$1,000	$1,000	1 year (365 days)	Quarterly	Quarterly
Interest withdrawal options: Accounts under $5,000: by check or deposit to checking or savings account semi-annually. Accounts $5,000 and over: by check or deposit to checking or savings account monthly, quarterly, or semi-annually.
$50,000	$50,000	1 year (365 days)	Quarterly	Quarterly
Interest withdrawal options: By check or deposit to checking or savings account monthly, quarterly, or semi-annually.
$1,000	$1,000	18 months (547 days)	Quarterly	Quarterly
Interest withdrawal options: Accounts under $5,000: by check or deposit to checking or savings account semi-annually. Accounts $5,000 and over: by check or deposit to checking or savings account monthly, quarterly, or semi-annually.
$1,000	$1,000	2 years (730 days)	Quarterly	Quarterly
Interest withdrawal options: Accounts under $5,000: by check or deposit to checking or savings account semi-annually. Accounts $5,000 and over: by check or deposit to checking or savings account monthly, quarterly, or semi-annually.
$1,000	$1,000	3 years (1095 days)	Quarterly	Quarterly
Interest withdrawal options: Accounts under $5,000: by check or deposit to checking or savings account semi-annually. Accounts $5,000 and over: by check or deposit to checking or savings account monthly, quarterly, or semi-annually.
Minimum deposit To open account	Minimum daily balance To earn APY	Certificate Term	Interest compounded	Interest credited/paid
$1,000	$1,000	4 years (1460 days)	Quarterly	Quarterly
Interest withdrawal options: Accounts under $5,000: by check or deposit to checking or savings account semi-annually. Accounts $5,000 and over: by check or deposit to checking or savings account monthly, quarterly, or semi-annually.

Early withdrawal penalties

You cannot withdraw any principal from this account before the maturity date shown on this form without our consent, and we must charge a penalty for early withdrawal. We can only consent to an early withdrawal at the time you request it.

For time deposits with an original scheduled maturity of less than six months, the penalty is 30 days' interest on the amount withdrawn.
For time deposits with an original scheduled maturity of six months to one year, but not including one year, the penalty is 91 days' interest on the amount withdrawn.
For time deposits with an original scheduled maturity of one year to five years, but not including five years the penalty is 182 days' interest on the amount withdrawn.
For time deposits with an original scheduled maturity of five years or more no withdrawal is permitted.

We will use the nominal (simple interest) rate in effect to calculate the amount of the penalty. We will charge the penalty first against the interest remaining in the account at the time of the withdrawal, and any excess will be deducted from the amount you withdraw.

If you withdraw some of your funds before maturity and the balance remains more than the required balance to earn interest, the interest rate and the annual percentage yield for the remaining funds will remain the same. For any time the deposit account which requires a minimum initial deposit or a minimum balance, we reserve the right to treat any withdrawal which would reduce the balance remaining in the account below such minimum as a withdrawal of the account balance, and calculate the amount of the penalty accordingly. This right is in addition to any other conditions stated in the deposit agreement.

Exceptions

WE MUST CONSENT TO A REQUEST FOR EARLY WITHDRAWAL WITHOUT PENALTY IF ANY ACCOUNT OWNER DIES OR BECOMES INCOMPETENT.
WE MUST CONSENT TO A WITHDRAWAL REQUEST IF THIS IS AN IRA OR KEOGH ACCOUNT AND THE REQUEST IS MADE WITHIN SEVEN DAYS OF ESTABLISHING THE ACCOUNT. THE PENALTY IN SUCH CASE WILL BE ALL INTEREST EARNED ON THE AMOUNT WITHDRAWN.
WE ARE PERMITTED TO WAIVE THE PENALTY IF THIS IS AN IRA OR KEOGH ACCOUNT AND YOU ARE AT LEAST 59 YEARS OF AGE OR DISABLED AT THE TIME OF THE REQUEST.

For more information, e-mail us at: deposits@lanarkbank.com