Term Share Certificate F.A.Q.s

General

What is a Term Share Certificate?

What is the minimum balance required for the various accounts (i.e. Money Market, Certificates) that Provident carries?

What is the minimum opening balance for a Term Share Certificate?

How long will it take to process my Term Share Certificate application?

Rates & Interest

Does Provident offer different rates on their Term Share or IRA Certificates based on the balance of the account?

What are your current Term Share Certificate rates?

What interest rate will be applied to my Term Share Certificate?

When do I start earning interest on my Term Share Certificate?

Can I close my existing Provident certificate and re-open in order to receive the new rate structure?

I already have a certificate account with Provident. When will I receive the new rate based on my balance?

Certificate Renewal & Maturity

How do I renew my Term Share Certificate account?

How long do I have to renew or close my account when my Term Share Certificate matures?

How will I be notified that my Term Share Certificate is going to mature?

My term share certificate is about to mature. Is there anything that I need to do to renew my certificate?

What happens to my 21-Month Term Share Certificate upon maturity?

Early Withdrawals

Does the Provident charge a penalty for early withdrawal of my money?

What are the penalties for early withdrawal of a certificate?

If I make a partial early withdrawal from my Provident certificate account and my balance moves from one tier to another, what rate will I receive?

Certificate Secured Loans

How much can I borrow against my Term Share Certificate?

Can funds in a variable rate certificate be used as security for a certificate secured loan?

Miscellaneous

Do I have to deposit "new money" to open a savings certificate?