BANK OF HOPE
TRUTH IN SAVINGS – ONLINE ACCOUNT OPENING
PRODUCT DISCLOSURE
BANK OF HOPE ONLINE CERTIFICATE OF DEPOSIT
Thank you for choosing the Bank of Hope Online Certificate of Deposit. This account allows you to earn interest at a fixed rate on the funds you leave on deposit for the term of your account. Listed below are important account features and applicable fees. Please read this disclosure for your reference. Once your application is approved and account is opened, a separate product disclosure with detailed account information will be sent to you.
| Minimum Opening Deposit |
$1,000.00 |
| Maximum Opening Deposit |
$250,000.00 |
| Term |
12 Months |
| Interest on Funds |
- Interest will not be compounded.
- Accrual of interest begins on the business day you deposit noncash items (i.e. checks).
- The daily balance method is used to calculate the interest on your account. This method applies a daily periodic rate (annual interest rate divided by 365, or 366 in a leap year) to the principal in the account each day.
- Interest will be credited to your account at maturity.
- If you close your account before interest is credited, you will receive the accrued interest.
|
| Rate Information |
- Interest rate is fixed for the term.
- The minimum balance of $1,000.00 is required to obtain the stated Annual Percentage Yield (APY) and maintain the account.
- The interest rate and APY indicated below are accurate as of 12/14/2020.
|
| Transaction Limitations |
- You may not make any deposits into your account during the term.
- You may not make any partial withdrawals during the term.
- The accrued interest during a term can be withdrawn on the day it is credited to the account or during the grace period without the penalty.
|
| Early Withdrawal Penalty |
- An early withdrawal penalty may be imposed for withdrawals made prior to maturity.
- The early withdrawal penalty for the 12-month term will be the amount equal to 30 days simple interest.
|
| Renewal Policy |
Automatic Renewal:
This account will automatically renew on the maturity date. If you choose not to renew this account, simply withdraw the funds at maturity or provide written notice within the grace period (ten calendar days). Bank of Hope may also choose not to renew the account by mailing a written notice at least 30 days prior to maturity. If the account is not renewed, interest will not accrue after the final maturity |
This account is subject to the same terms and fees, unless otherwise noted above, applicable to other consumer transaction accounts as disclosed in Bank of Hope’s Deposit Account Agreement. Any changes to the above that may adversely affect the accountholder will be disclosed 30 days prior to the effective date. Other terms and fees are subject to change without prior notice except as required by law. For additional fees that may apply to the Bank of Hope Online Certificate of Deposit, please refer to Bank of Hope’s Other Fees and Charges Sheet.
Revised Dec 14, 2020
MEMBER FDIC
계좌 개설시 디파짓 - $1,000
기간 - 12 개월 
