1APY = Annual Percentage Yield
For CDs with terms of 12 months or longer, interest is compounded daily and credited monthly. For CDs with terms less than 12 months, simple interest is paid monthly. APY offered assumes interest remains on deposit until maturity. Spencer offers the convenience of automatic renewals. If either you or we prevent renewal, interest will not accrue after the final maturity. Early withdrawal penalties may be imposed and the fee could reduce principal. Available to individuals living in the state of New Jersey.
Early withdrawals are subject to the following penalties;
• Maturity of less than 1 year, loss of 90 days interest
• Maturity of more than 1 year, loss of 180 days interest
Premium APYs not available on promotional CDs. Rate may change after the account is open. Rates are subject to change without notice. Fees could reduce earnings on any of the accounts. Interest payments are rounded to the nearest cent. As a result, low-balance accounts may not be paid interest. Available to individuals living in NJ.
For IRA Accounts, please consult with your tax advisor for tax-deductible status.