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Term Deposit Details & Disclosures

Rates subject to change at any time. Rates effective as of November 01, 2020.

Term Deposit Savings Account Additional Information

  • You will receive a copy of the certificate approximately one week after it is opened.
  • A maturity notice will be mailed to you approximately two weeks before it matures. If you do not inform UMassFive of any changes to the certificate, then it will automatically renew at the prevailing rate.
  • Term Deposit rates are subject to change weekly.
  • Term Deposits with a term of less than 1 year have no compounding interest. The rate is in effect for the term of the Term Deposit Certificate at the time of purchase.
  • Fees associated with certain products may reduce earnings.
  • A penalty will be imposed for early withdrawal of Term Deposit principal. For Certificates less than or equal to 1 year in duration the penalty is 3 months interest. For Certificates greater than 1 year in duration the penalty is 6 months interest

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