Certificates of Deposits are ideal for the investor who is looking for a higher rate and does not anticipate needing to access the funds for a predetermined period of time. Terms available from 30 days to 5 years.
The interest rate and annual percentage yield for your account will be paid until the maturity of your Certificate of Deposit or IRA Certificate of Deposit. Interest is compounded daily and credited monthly, quarterly, semiannually, annually, or at the end of the term. Interest begins to accrue on the business day you deposit any noncash items (for example, a check). We use the daily balance method to calculate interest on this account. This method applies a daily periodic rate to the principal in the account each day. If any of the deposit is withdrawn before the maturity date, a penalty as shown below will be imposed.
| Term |
Early Withdrawal Penalty |
| 30 - 364 days |
30 days interest on the amount withdrawn |
| 365 days - 5 years |
90 days interest on the amount withdrawn |
Fees could reduce the earnings on the account. †APY=Annual Percentage Yield.
