For additional information concerning our Business Banking Products please contact a New Accounts Representative at one of our convenient locations.
Certificates of Deposit
- Minimum opening balance $500. (31 Day: $1000 minimum)
- Interest earned on fixed rate instruments based on amount, length to term, and current market.
- Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
- This account will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty.
- We will impose a penalty if you withdraw any of the principal before the maturity date. The fee imposed will depend on the term of your CD.
- The annual percentage rate assumes interest will remain on deposit until maturity. A withdrawal of interest will reduce earnings.
- The bank reserves the right to require seven (7) days prior written notice of withdrawal.
- We use the daily balance method to calculate the interest in your account. This method applies a daily periodic rate to the principal in the account each day.
- Interest may be
- Credited to your account
- Paid by check or
- Compounded. All certificates of deposit compound quarterly with the exception of 31 day and 90 day terms.
