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TRUTH IN SAVINGS
REGULATION DD
The Home Savings and Loan Company of Kenton, Ohio

June 2017


 
Type of Account Interest Rate Annual Percentage Yield Method of Compounding Automatic Renewal Fees Penalty for Early W/D Minimum Balance
***NOW Account 0.03% 0.03% monthly       $100.00
SAVINGS 0.07% 0.07% quarterly n/a 0 $100 to earn interest** $50.00
Christmas Club 0.10% 0.10% quarterly n/a   0 $10.00
***Money Market - Under $50,000 0.10% 0.10% monthly n/a see NOW account 0 $2,500.00
see NOW account
***Money Market - Over $50,000 0.35% 0.35% monthly n/a see NOW account 0 $50,000.00
see NOW account
91 day - CD fixed 0.075% 0.075% quarterly yes
7 day grace
0 30 days loss of interest $2,500.00
6 - month CD fixed 0.10% 0.10% quarterly yes
7 day grace
0 30 days loss of interest $2,500.00
12-month CD fixed 0.15% 0.15% quarterly yes
7 day grace
0 30 days loss of interest $500.00
13-month CD fixed 0.20% 0.20% quarterly yes
7 day grace
0 3 months loss of interest $500.00
18-month CD fixed 0.25% 0.25% quarterly yes
7 day grace
0 3 months loss of interest $500.00
24-month CD fixed 0.30% 0.30% quarterly yes
7 day grace
0 3 months loss of interest $500.00
30-month CD fixed
(No longer available)
0.30% 0.30% quarterly yes
7 day grace
0 6 months loss of interest $500.00
48-month Step-Up*** 0.50% .50% quarterly yes
7 day grace
0 6 months loss of interest $500.00
60-month CD fixed 1.00% 1.00% quarterly yes
7 day grace
0 6 months loss of interest $500.00
IRA-KEOGH fixed .25% higher for CD 12 months or longer       quartery yes
7 day grace 
0 Same penalty as CD types $250.00

 

 

 **Will not earn interest for days account under $100.

***Interest rate changes subject to change at the beginning of every interest paying period (monthly or quarterly) without notice.

****Customer has the option of raising RATE and APY if increase occurs for this class of CD at Home Savings and Loan. Requests must be in writing and are limited to once each calendar year.

Interest is paid on renewing CD's during the grace period at the current rate then in effect.

Any certificate accounts falling below the minimum balance to open will be closed and funds forwarded to the customer immediately. The State of Ohio requires financial institutions to report all unclaimed funds if the account has no activity in a five-year period. If this situation occurs, Home Savings and Loan makes very attempt to contact the depositor. If contact cannot be made and there is no activity on the account, the funds in the account must be surrendered to the State of Ohio. All deposit accounts reflect a legal obligation between the consumer and Home Savings and loan.

Home Savings and Loan normally does not accept deposits from individuals or entities outside the Home Savings and Loan's lending area.

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