Certificate of Deposit (CDs)
A CD from Central Bank allows you to lock in an attractive rate for a specified period of time. All Central Bank CDs give you flexible terms and rates that match changing market conditions. In addition to our regular CD's, we offer the CD Management Account and the Central Advantage CD. We will occasionally run CD specials, so please see your personal banker.
CD Management Account
The CD Management Account offers an alternative to long term, fixed rate CDs by allowing:
- Additional deposits of a minimum of $100.00
- Permits single penalty free withdrwal after seven days
- Provides a monthly statement of all activity
- $2,500 opening deposit
The variable interest rate is indexed to the Six-Month Treasury Bill rate and changes on the first day of each month.
Central Advantage CD
This CD offers individuals who want higher yields, an alternative to long-term fixed rate deposits and provides limited liquidity with the flexibility to make unlimited additional deposit and two withdrawals without penalty. The term is one year.
Click here for Certificate of Deposit Disclosure of Account Terms.
Certificate of Deposit Account - Early Withdrawal Notice
| MATURITY TERM | DESCRIPTION OF EARLY WITHDRAWAL PENALTY |
| 7 Days through 31 Days | Forfeiture of the greater of: |
| | |
| | A. All interest earned on the amount withdrawn from the most recent of the date of deposit or the date of maturity/automatic renewal;
OR
B. All interest that could have been earned on the amount withdrawn during a period equal to one half the maturity period;
OR
C. The amount of interest that would have been earned for seven (7) days on the amount withdrawn. |
| | |
| 32 Days through 365 Days | Forfeiture of 31 days' simple interest. |
| Over 1 Year | Forfeiture of 183 days' simple interest. |
