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Certificates of Deposit
In addition to its regular CD rates and terms, American Savings periodically offers special CDs with different rates and terms. American Savings also offers Variable CDs and Jumbo CDs.
Product features:
 | Accrued interest compounds quarterly. |
| Interest accrues based on a 365 day year. |
| Interest begins to accrue on the day American Savings receives credit. |
| Interest is not credited if the customer closes the account before receiving interest. |
| The minimum deposit is $1,000 on most CDs. |
| Check here for our current CD rates. |
Variable CDs
Unlike a regular CD, the rate on
a variable CD
is not fixed. Rather the rate
is set based on 50% of the Wall Street Journal Prime
rate plus 0.5%. As prime
changes, the rate on the CD also changes.
Other terms and conditions are the same as for regular CDs.
Jumbo CDs
A Jumbo CD, much like our regular CDs, is a time deposit
which enables the customer to earn a higher
rate
of interest than a statement or passbook savings account.
But with a minimum deposit for a Jumbo CD
of $100,000, the customer receives a higher rate than that offered for a
comparable maturity regular CD. Other terms and conditions are the same as for regular CDs.
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