| Features |
IRA Quarterly |
IRA Fixed |
| Minimum Opening Deposit |
$100 |
$100 for 60-month term, $1,000 for 12 or 24-month term, $2,500 for 30-month term |
| Minimum Balance Needed to Obtain Annual Percentage Yield (APY) |
N/A |
N/A |
| Minimum Balance Needed to Avoid Fees |
A monthly service charge fee of $3 will be imposed if the balance in the account falls below $100 on any day of the month |
$100 for 60-month term, $1,000 for 12 or 24-month term, $2,500 for 30-month term |
| Visa Debit Card with qualified checking account |
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| Rate Information |
Interest rate and APY may change |
Account will be paid the disclosed interest rate until first maturity |
| Frequency of Rate Changes |
Quarterly |
Fixed interest rate for applicable terms |
| Determination of Rate |
Account interest rate vary at HBM’s discretion |
Interest rate determined at account opening and account maturity* |
| Compounding and Crediting Frequency |
Interest will be compounded every day. Interest will be credited to your account every quarter. |
N/A |
| Effect of Closing An Account |
If you close your account before interest is credited, you will not receive the accrued interest. |
If you close your account before interest is credited, you will not receive the accrued interest. |
| Early Withdrawal Penalties |
A penalty may be imposed for withdrawals before maturity. The fee we may impose will equal six months interest on the amount withdrawn subject to penalty. |
A penalty may be imposed for withdrawals before maturity. The fee we may impose will equal six months interest on the amount withdrawn subject to penalty. |
| Daily Balance Computation Method |
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. |
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. |
| Accrual of Interest on Non-Cash Deposits |
Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). |
Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). |
| "Common Features" fee chart applies. |
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Accounts closed before the interest is credited will not receive the accrued interest, a penalty of six (6) months interest may be imposed for premature withdrawals, account interest is calculated using the daily balance method (daily periodic rate to the daily principal in the account), interest accrues business day of reception of credit for noncash item deposits (items such as checks)
Monthly fee on IRA Quarterly account is specific to IRA savings account