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Online Certificates of Deposit Account Disclosures

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Online Certificates of Deposit Account Disclosures

FNBO Direct is a division of First National Bank of Omaha

  • You must deposit at least $500 to open this account.
  • Interest begins to accrue on the business day you deposit any noncash item. Noncash items include, but are not limited to, checks.
  • We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal balance in the account each day.
  • Interest for your account will be compounded daily and credited quarterly. If you close your account before interest is credited, you will receive accrued interest.
  • We may accelerate the maturity or call this account at our option on any maturity upon 30 days written notice.
  • Certificate of Deposit Interest Rates and Annual Percentage Yields as of   (click to view current rates):

You will be paid the disclosed rate until the first maturity date on your account. You must maintain a minimum balance of $500 in your account each day to obtain the disclosed annual percentage yield. The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.

  • After the account is opened, you may not make deposits into the account until the maturity date. A penalty may be imposed for withdrawals before maturity. The interest rate used to calculate the penalty is the interest rate in effect at the time of the withdrawal. We will charge the penalty first against any interest in the account, then against the amount you withdraw. We reserve the right to treat any withdrawal which would reduce the balance below $500 as a withdrawal of the entire balance and calculate the penalty accordingly.

    • Terms of 0-3 months are penalized all interest earned if withdrawn early (minimum of 7 days)
    • Terms over 3 months up to 1 year are penalized 3 months of interest
    • Terms over 1 year are penalized 6 months of interest.

  • This account will renew automatically at maturity. You will have a ten calendar day 'grace-period' after the maturity date to withdraw funds without penalty. If you withdraw your funds during that 'grace-period', interest will continue to be paid during the 'grace-period' at the lower interest rate between the rate of the previous CD term you were earning, or the new interest rate of the CD term you would be earning. The account will not renew if you withdraw funds on the maturity date or if we receive notice from you on or before the maturity date of your intention not to renew. Renewals will be for a similar term. If an account of the same maturity is not offered, the rate will be that of the next shortest maturity certificate of deposit or retirement account offered. Interest will be adjusted to the rate we are then paying accounts of similar denomination and maturity. The principal of the renewed account will include interest from prior periods.

  • You may not make a deposit that would bring your total principal balance on any accounts with us to more than $1,000,000. We also reserve the right to refuse or return additional deposits at any time and for any reason (see Section 11 of the Deposit Agreement in the Terms & Conditions for further details).

IMPORTANT NOTE ABOUT SECURITY FOR DEPOSITS AND TRANSFERS: The security of your FNBO Direct account and any external linked account is important to us. We have various policies and procedures that are designed with security in mind. As a result, we may at any time: (1) change the ways in which you are permitted to make deposits to your account or transfers from your account; (2) temporarily restrict any or all deposits to your account and any or all transfers from your account, if we determine a security risk exists; (3) refuse to enroll any external account and suspend or terminate the enrollment of any previously approved external account; and (4) refuse to complete any transfer or withdrawal based on the existence of a security risk. When you request to enroll any external account, we may temporarily restrict all deposits to and/or transfers from your FNBO Direct account while we verify your ownership of all your external accounts. Except for notices required by applicable law, we may do these things without further notice. In some cases, our security policies may delay transactions that you wish to complete. If any Additional Verification (as referenced above) has not been completed to our satisfaction, we may consider a security risk to exist.