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| CDs - Frequently Asked Questions |
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Who is eligible to apply for our Certificate
of Deposit (CD) with us?
All account owners must be U.S. citizens or resident aliens residing
in the U.S. Only consumers may apply at this time.
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How do I redeem my CD at maturity?
Your CD is automatically renewable at the end of each term.
A notice will be mailed to you prior to maturity as a reminder.
If you choose not to renew at that time, you must redeem the CD
on the maturity date or within the seven day grace period. This
can be done by mail or in-person.
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What happens if I want to make a withdrawal or close
my CD before the maturity date?
You have agreed to maintain your account until maturity. We
may permit a withdrawal before maturity; however, we may impose
a penalty on the amount withdrawn. The penalties are listed below.
Early Withdrawal Penalty - Withdrawal of any amount of the principal
from your certificate of deposit before maturity date is subject
to the following penalties on the amount of principal withdrawn:
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CD Term
Less than 3 months
3-6 months
6 months to 3 years
3 years or more |
Early Withdrawal
Penalty
All interest earned
90 days of interest
180 days of interest
365 days of interest |
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How will I receive my interest?
Interest will be paid to your CD account at maturity for terms
less than 6 months.
For terms of six months or more, interest will be compounded and
paid to your CD account quarterly unless you direct us otherwise.
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Privacy & Security | Terms of Use
© 2008 Bank of America Corporation. All rights reserved. Bank of America,
N.A., LaSalle Bank N.A., and LaSalle Bank Midwest N.A. Members FDIC.
Equal Housing Lenders. Equal Opportunity Lenders. PLEASE NOTE: LaSalle products may not be able to be serviced at Bank of America banking centers or through BankofAmerica.com until late 2008.
The products and services described on this page are offered by LaSalle Bank Midwest N.A., operating under the name Bank of America. The terms "we", "us", "our" and "Bank of America" refer to LaSalle Bank Midwest N.A. LaSalle Bank is part of the Bank of America family of companies.
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