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(Rates are current as of August 13, 2020. Rates shown are not guaranteed and are subject to change without notice. For complete information on deposit accounts, including up-to-the minute rate and fee information, please consult a Midland Customer Service Representative.)
| Account Type | Min. Opening Deposit | Min. Balance to Obtain APY | Interest Rate | Annual Percentage Yield (APY) | Interest Information |
|---|---|---|---|---|---|
| 8 - 89 Day CD | $500 | $500 | 0.15% | 0.15% | Interest credited at maturity |
| 90 - 181 Day CD | $500 | $500 | 0.20% | 0.20% | Interest credited at maturity |
| 6 Month CD | $500 | $500 | 0.30% | 0.30% | Interest compounded & credited quarterly |
| 12 Month CD | $500 | $500 | 0.60% | 0.60% | Interest compounded & credited quarterly |
| 18 Month Jump CD | $500 | $500 | 0.80% | 0.80% | Interest compounded & credited quarterly |
| 24 Month Jump CD | $500 | $500 | 0.85% | 0.85% | Interest compounded & credited quarterly |
| 36 Month Jump CD | $500 | $500 | 0.90% | 0.90% | Interest compounded & credited quarterly |
| 48 Month Jump CD | $500 | $500 | 0.95% | 0.95% | Interest compounded & credited quarterly |
| 60 Month CD | $500 | $500 | 1.00% | 1.00% | Interest compounded & credited quarterly |
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The daily balance method is used to calculate interest on the account. This method applies a daily periodic rate to the principal in the account each day. The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. If you withdraw any of the principal before the maturity date, we may impose a penalty of thirty (30) days for CD terms under 90 days; ninety one (91) days for CD terms from 90‐365 days; or one hundred eighty two (182) days for CD terms longer than 365 days. If the account is closed before interest is credited, you will not receive the accrued interest. Certificates will automatically renew, a 10‐day grace period will be provided. |
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