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June 27, 1975 - Image 13

Resource type:
Text
Publication:
The Detroit Jewish News, 1975-06-27

Disclaimer: Computer generated plain text may have errors. Read more about this.

THE DETROIT JEWISH NEWS

Friday, June 27, 1975 13

This is a trick question.
Which is the highest savings
interest in town: 51/4%, 6 1 /2%,
63 A, 71/2% or 7 3 4%?

First Federal Savings Plans

Type of
Account

Minimum
Amount

Annual .
Rate

Effective
Annual
Rate

Regular
Passbook

No
Minimum

51/4%

5 . 35 %

$1,000

6 1/2 %

6.66%

$1,000

6 3 /4%

6.92%

4-Year
Passbook
Certificate *

$1,000

7 1 /2%

7.71%

6-Year
Passbook
Certificate *

$1,000

7 3 /4%

7.98%

One-Year
Passbook
Certificate *

2 /
1 rYear
Passbook

Certificate *

,

*The maturity da e for all passbook certificate savings
accounts is the last day of the month during which the
qualifying time period for the account expires.

Federal regulations require a substantial interest penalty for
early withdrawal from certificate savings accounts.

INSURANCE ON
SAVINGS ACCOUNTS

.

The answer, of course, is "all of
the above".

interest rate as the term of the
certificate increases.

And it's no trick to understand
that First Federal Savings of
Detroit offers all of the above
and sees to it that you get the
savings plan that's right for you.

You could put $1,000 in any of
the four certificates and earn
from 6 1 /2% to 7 3 /4%, depending
on the plan.

For example, we offer a wide
variety of short- and long-term
certificate savings accounts that
might be ideal if you have $1,000
or more to same and can invest it
for a fixed period of time.

There's our regular passbook
savings account, as well. It
pays daily interest. And that
means you collect 5 1/4% per
year from the date of deposit to
the date of withdrawal.

MEMBER

FSLIC

Fodor& Say-rop & taw Inuit xncts Corp

row Soso•tgit Insured to .40000

In any case, with any of our
accounts, the interest you re-
ceive is the highest allowed by
law, and higher than some
financial institutions are
allowed, by law, to pay.

You see, we believe that we can
only do our job right by making
a savings account a truly profit-
able thing for you. Which brings
us to another question that's
certainly no trick:

Isn't that what you want?

The main advantage of the
regular passbook account, of
course, is that you can add or
withdraw money at any time
without penalty.

Often, people combine our
regular passbook account with
one or more certificate
accounts. There are four dif-
ferent ones at present, each
offering a progressively higher

litgr

FEDERAL

First.
Putyourself in our place.
First Federal Savings of Detroit

Main Office: 1001 Woodward Avenue, Detroit, Michigan 48226 Phone: 965-1400

Southfield Office: 2-1621 kVcst "Isen Mile l Ci41O. Phone: 554-9050,

Hours: Monday-Thursday ):50-4:(X), Friday:

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