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5 Reasons to Choose Franklin Gold

CD’s are not the most exciting way to invest your savings these days with low returns and the constant expectation of rising rates. Throughout the industry fellow bankers report the same trends for the last few years of depositors keeping their money in short duration accounts and giving up the higher yields of longer term CDs. We believe we found an excellent solution to that dilemma. The FRANKLIN GOLD account is a time deposit with an early withdrawal penalty, but here’s what sets it apart from all others, and provides a great option to you the account holder:

1. High Yield: The interest and APY is 2.10%. Compare that return to any other deposit product either on-line or locally. You will see that this account provides one of the highest returns in the market.

2. Liquidity: Need funds quickly? You can borrow against your account balance at any time at 4.25%. Certain terms and conditions apply.

3. Safety: Accounts are insured by the FDIC up to $250,000 per depositor.

4. Protection against rate increase: If the Fed ever decides to increase rates, you can rest easy with your FRANKLIN GOLD account. You have an option during the term of the CD to get an increase to the current 5 year rate Tioga Franklin Savings Bank offers for the remaining term, at no cost to you. Just ask, and you will receive the increase.1 As an added feature, we will e-mail you anytime our 5 year rate changes. Just so you won’t miss out!2

5. Access to your funds: Need to access your funds? Here’s an important feature that protects you from emergencies and other events requiring you to access your funds. The FRANKLIN GOLD account pays interest monthly, either by check or direct deposit, and, the early withdrawal penalty for this account is set to reward you the longer you hold the account. Thus, if you have to withdrawal a portion or all of your account early, you can do so and still have the peace of mind that your earnings on those funds withdrawn will not only avoid being consumed by penalties, but will actually earn a net interest rate higher than most accounts in the market held for a similar term.3

There is a penalty that will be applied against funds being withdrawn early. But this penalty has a Loyalty Factor, the longer the funds are kept on the deposit, the lower the penalty. The table below shows the net earnings after penalty for varying maturities. Compare this to the earnings on other CD’s. Franklin Gold is golden.


1 The rate increase option is available at any time during the original term of the account. Request must be in writing, e-mail, or in person. This option can be exercised once over the original term of the account.

2 Notification requires a valid e-mail account and will be considered as consent to receive e-mail notifications from Tioga Franklin Savings Bank.

3 Funds withdrawn prior to maturity are subject to early withdrawal penalties. The penalty is based on the length of time the funds remained on deposit. To determine the interest to be paid on the withdrawn funds, the bank will calculate the penalty portion attributed to the withdrawn funds and apply that factor first to the accrued interest and then to the principal portion of the funds withdrawn. Penalty factor is not applied to the principal portion of funds remaining in the account for partial withdrawals.

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