Business Banking
Certificate of Deposits
Minimum Opening Balance: $1,000.Features: Terms vary according to customer choice.
Grace Period:
- For accounts with a term of less than 30 days, there is a 7-day grace period following the maturity date before account will automatically renew; early withdrawal penalties apply following the grace period.
- For accounts with a term 30 days or greater, there is a 10-day grace period following the maturity date before the account will automatically renew: early withdrawal penalties apply following the grace period.
- Original maturity under 30 days, the penalty is forfeiture of three month's interest.
- Original maturity 30 days to one year, the penalty is forfeiture of three months' interest.
- Original maturity greater than one year, the penalty is forfeiture of six months' interest.
