Certificates of Deposit Policy
This Certificates of Deposit Policy addresses accounts, products and services, and the related operations of a bank, credit union, or other type of financial institution. In general, a certificate of deposit (COD) is a non-negotiable receipt for funds deposited in an interest-bearing account for a specific period of time. The certificate (receipt) stipulates the terms and conditions of the deposit agreement. Additional funds may be deposited only at maturity.
Table of Contents
- Purpose and Contents – Topic 1
- Policy Description, Authority and Scope – Topic 2
- Product Definition – Topic 3
- Interest Rates and Maturities – Topic 4
- Automatically Renewable/Single Maturity COD – Topic 5
- Grace Periods – Topic 6
- Disclosure Requirements – Topic 7
- Early Withdrawal Penalties – Topic 8
- Interest Payments – Topic 9
- Account and Serial Numbers – Topic 10
- Opening a Certificate of Deposit – Topic 11
- Certificates of Deposit Pledged as Collateral – Topic 12
- Security Deposits – Topic 13
- Certification of Certificates of Deposit – Topic 14
- Certificates of Deposit in Forecast – Topic 15
- Changing or Correcting Account Information – Topic 16
- Closing a Certificate of Deposit – Topic 17
- Lost Certificates of Deposit – Topic 18
- Maturity Procedures and Notices – Topic 19
- Past Matured Certificates of Deposit – Topic 20
- Retention of Documentation – Topic 21
This Certificates of Deposit (COD) Policy (approximately 9 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
Product Update Protection Plan
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