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6-120 Month Fixed Rate IRA Certificate and 18 Month Variable Rate IRA Certificate

RATE INFORMATION
Refer to the rate schedule for your Interest Rate and Annual Percentage Yield information. You will be paid this rate until maturity.

COMPOUDING AND CREDITING
6-120 Month Fixed Rate IRA: Not offered for 3 month, 5 month, or any specials. Interest will be compounded monthly and credited monthly.

18 Month Variable Rate IRA: Interest will be compounded quarterly and credited quarterly.

Interest begins to accrue on the day of deposit. The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. If interest is credited to another account or paid to you by check, this may reduce earnings and may negate the effect of interest compounding.

 

MINIMUM BALANCE REQUIREMENTS

6-120 Month Fixed Rate IRA: You must deposit $500 to open this account. You must maintain a minimum balance of $500 in your account every day to obtain the Annual Percentage Yield listed above.

18 Month Variable Rate IRA: You must deposit $50 to open this account. You must maintain a minimum balance of $50 in your account every day to obtain the Annual Percentage Yield listed above.

BALANCE COMPUTATION METHOD

We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

FEES AND CHARGES
Please refer to the separate fee schedule for information about fees and charges associated with this account. A fee schedule will be provided to you at the time you open an account, periodically when fees or charges change, and upon request.

TRANSACTION LIMITATIONS

6-120 Month Fixed Rate IRA: After the account is opened, you may not make deposits into the account until the maturity date.

18 Month Variable Rate IRA: After the account is opened, you may make deposits at any time throughout the term according to IRS Guidelines.

Individual Retirement Accounts (IRA’s) are subject to limitations and/or penalties imposed by the Internal Revenue Service. Please refer to the IRA Agreement or your Tax Advisor for additional information.

EARLY WITHDRAWAL PROVISIONS

Traditional IRA (Fixed or Variable): If you withdrawal any principal before the maturity date (unless you have attained the age of 70 years) a penalty equal to one half of the terms interest, earned or unearned, will be charged.

Roth IRA (Fixed or Variable): If you withdrawal any principal before the maturity date, a penalty equal to one half of the terms interest, earned or unearned, will be charged.

RENEWAL POLICY

This account will automatically renew at maturity. You have a grace period of nine (9) calendar days after the maturity date to change terms or withdraw the funds without being charged an early withdrawal penalty.

ONE TIME PER YEAR OPTION FOR 48 MONTH TERM (and longer) CDs
When the IRA customer reaches the age of 59 1/2 years old, they are permitted to change the interest rate on their 48 month (or longer) CD to match a higher Cincinnati Federal rate in effect at that time for the same term. This option can only take place 1 time per calendar year per account within a customer’s plan. The customer must notify an office of Cincinnati Federal in writing if they intend to elect the higher rate option. Additional deposits to the account are not permitted. This option is subject to change without notice.

DORMANT/INACTIVE ACCOUNT INFORMATION

Unclaimed Funds- IRA Accounts are considered dormant three years after the Required Distribution Date if there is no activity.