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Business CDs

A quick overview of our business CDs.

Features

  • $1,000.00 minimum opening deposit
  • No monthly service fee
  • Competitive rates
  • Terms from six months to five years
  • Free virtual banking and bill pay
  • eAlerts
  • Free eStatements
  • Free automated telephone banking
  • Your deposits are insured by the FDIC up to the maximum allowed by law.

Business Rates

Business Certificates of Deposit4 APY1 Rate4 Balance Minimum Opening Deposit
6 Month Term 0.30% 0.30% $1,000.00 – $99,999.99 $1,000.00
12 Month Term 0.80% 0.80%
18 Month Term 1.00% 1.00%
24 Month Term 1.00% 1.00%
36 Month Term 1.15% 1.14%
48 Month Term 1.23% 1.22%
60 Month Term 1.41% 1.40%
6 Month Term 0.30% 0.30% $100,000.00 or more $100,000.00
12 Month Term 0.80% 0.80%
18 Month Term 1.00% 1.00%
24 Month Term 1.00% 1.00%
36 Month Term 1.15% 1.14%
48 Month Term 1.23% 1.22%
60 Month Term 1.41% 1.40%
Contact Us to open an Account

1 Interest rates and Annual Percentage Yields (APY) accurate as of January 1, 2016 and are subject to change. APY assumes interest and principal remain on deposit for one year. 

4 Interest rates are subject to change at any time, however, the rate in effect when your certificate is opened is guaranteed to maturity. There is a penalty for early withdrawal prior to maturity. If you account is automatically renewable, you will have ten days after maturity to withdraw funds with no penalty. If you do not renew your certificate, interest will not be paid after the maturity date. You may not make additional deposits to CD’s.

Fees

The new early withdrawal verbiage for the CDs is as follows –  We do not have to permit early withdrawals from the account. On each one we do permit, we can charge a penalty calculated as follows: For accounts with an original maturity of less than two years we may impose a fee equal to 3 months interest on the amount withdrawn subject to penalty. For accounts with an original maturity of two years we may impose a fee equal to 6 months interest on the amount withdrawn subject to penalty. For accounts with an original maturity of three or four years we may impose a fee equal to 9 month interest on the amount withdrawn subject to penalty. For accounts with an original maturity of five years we may impose a fee equal to 12 months interest on the amount withdrawn subject to penalty. Other than the minimum withdrawal penalty the fee will not exceed the amount of interest accrued to date on the principal amount. If there is enough accrued interest to cover the penalty, we deduct the penalty from it. If not, we deduct the remainder of the penalty from principal. If the account is a variable rate account, we will calculate the penalty using the interest rate being applied at the time of withdrawal. If the account is an Individual Retirement Account, the early withdrawal penalty will be in addition to any penalty imposed under the Individual Retirement Account (IRA) Disclosure Statement. The minimum early withdrawal penalty is seven days’ simple interest on any amount withdrawn (a) within the first six days after the account is opened, or (b) within six days after a previous early withdrawal.

Other fees may apply for additional services.  Please see our schedule of fees for a complete listing.

Complete List of Service Fees

 

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