7 Day Notice

• Minimum opening balance - $10,000.
• The day the account is opened is referred to as your "Notice Day".
• We use the daily balance method to calculate the interest on your account.  This method applies a daily periodic rate to the collected principal in the account each day.
• Interest for your account will compounded daily.  This method adds interest earned to the principal in the the account each day in order to calculate the next day's interest earned.
• Rate change frequency is at the Bank's discretion.
• Interest for the account will be posted to the account on each notice day.
• You must maintain a minimum balance of $10,000 in your account every day to obtain the annual percentage yield.  In the event your balance drops below $10,000, the account will earn interest at the regular passbook savings rate for those days your balance remains below $10,000.
• Deposits in the amount of $5,000 or more are allowed to your account on each "Notice Day".
• Withdrawals are allowed without penalty on each "Notice Day".
• Withdrawals on a day other than the "notice Day' is subject to a penalty equal to 7 days loss of interest whether earned or unearned.
• Grace Day: none
• This account will be renewed automatically at maturity for a like term unless notified otherwise by the accountholder.

91 - 364 Day Certificates of Deposit

• Minimum opening balance - $2,500.00
• We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the collected principal in the account each day.
• CD's less than one year use a true simple method to calculate interest on your account. This method calculates interest on the original collected principal only.
• Interest on your account will be distributed at maturity, however, customers may choose to receive a monthly or quarterly interest check or interest transfer to another account.
• You must maintain a minimum balance of $2,500.00 in your account every day, to obtain the annual percentage yield.
• The annual percentage yield assumes interest remains on deposit until maturity. A withdrawal will reduce earnings.
• After the account is opened, you may not make deposits into the account until the maturity date.
• If you withdraw any principal before the maturity date, a penalty equal to 91 days loss of interest will be charged to your account, whether earned or unearned.
• This account will be automatically renewed at maturity for a like term unless otherwise specified in the Certificate. You have a grace period seven (7) calendar days after the maturity date to withdraw the funds without being charged a penalty.

1 Year - 60 Month Certificates of Deposit

• Minimum opening balance - $500.00 or $2,500.00 depending on the product selected.
• We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the collected principal in the account each day.
• Interest for your account will be compounded depending on which product type you choose.
  The compounding frequencies are as follows:
  • Daily compounding - this method adds interest earned to the principal in the account each day in order to calculate the next day's interest earned.
  • Monthly compounding - this method adds interest earned to the principal in the account each month in order to calculate the next month's interest.
  • Quarterly compounding - this method adds interest earned to the principal in the account each quarter in order to calculate the next quarter's interest.
  • True simple - this method calculates interest on the original principal only.
• Interest for your account will be distributed monthly, quarterly, annually, or at maturity, depending on the product type selected.
• You must maintain a minimum balance of $500.00 or $2,500.00 in your account every day to obtain the annual percentage yield.
• The annual percentage yield assumes interest remains on deposit until maturity. A withdrawal will reduce earnings.
• After the account is opened, you may not make deposits into the account until the maturity date.
• If you withdraw any principal before the maturity date, a penalty equal to 182 days loss of interest will be charged to your account, whether earned or unearned. In the case of Certificates of one year, a penalty equal to 91 days loss of interest will be charged to your account, whether earned or unearned.
• This account will be automatically renewed at maturity for a like term unless otherwise specified in the Certificate. You have a grace period of seven (7) calendar days after the maturity date to withdraw the funds without being charged a penalty.

The following products compound interest daily and pay monthly or quarterly depending upon customer choice:
12 Month
18 Month
30 Month
36 - 59 Month
60 Month

The following products are true simple and pay annually:

The following products compound and pay monthly or quarterly depending upon customer choice:

The following products are true simple and pay monthly or quarterly depending upon customer choice:

*Products no longer offered at A.J. Smith Federal Savings Bank.

25 Month to 35 Month Certificates of Deposit

• Minimum opening balance - $2,500.00
• We use the daily balance method to calculate the interest on your account.  This method applies a daily periodic rate to the collected principal in the account each day.
• Interest accrued on your account may be distributed monthly or quarterly, depending on the customer's choice. 
• You must maintain a minimum balance of $2500.00 in your account every day to obtain the annual percentage yield.
• The annual percentage yield assumes interest remains on deposit until maturity.
• After the account is opened, you may not make deposits into the account until the maturity date.
• If you withdraw any principal before the maturity date, a penalty equal to 182 days loss of interest will be charged to your account, whether earned or unearned.
• At the expiration of the term, this certificate will convert to the terms, conditions and APY of the prevailing regular passbook savings rate.
• Rate may be bumped up once during the term of the certificate without extending the current maturity date.