Certificates of Deposit
Home State Bank Certificates of Deposit are available to both commercial and private investors who want competitive yields with minimum risk. For those individuals on a fixed income, interest payments from Certificates of Deposit can increase their annual earnings. Interest disbursements from CD's can be customized to fit specific needs.
Maturities range from one month to five years. Interest on a CD is fixed until its maturity. Payments of interest, which may depend on the amount and/or term of the CD, can be paid as often as monthly, in the form of a check, a transfer to another deposit account, or compounded to the CD's principal (which allows interest to be earned on the interest).
CD's do not incur service charges. Interest is paid on the deposited funds, unlike Treasury Bills, Treasury Notes and Stock, all of which have fees attached (maturity fees, annual fees, transfer fees, etc.).
The automatically renewable feature of Home State Bank CD's permits customers to keep the original certificate, avoiding the inconvenience of acquiring a new CD at each maturity date.
A minimum deposit of $1,000 is required for a CD.
A substantial interest penalty applies to an early withdrawal.
Higher Learning Fund
A Higher Learning Fund is a savings plan that helps parents and grandparents save for the future educational needs of their children and grandchildren. The account is unique--it earns a high rate of return without requiring a large minimum deposit. A Higher Learning Fund can be opened with a $50 deposit and no required regular deposit thereafter. The frequency and amounts of contributions are completely up to the account holder. A Higher Learning Fund pays one of the hightest interest rates offered by the bank. The fund matures when the child graduates from high school. Ask a Personal Banking Counselor for information on current annual percentage yields.
