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Certificate of Deposit

What is a Certificate of Deposit (CD)?

A certificate of deposit, more commonly known as a CD, is a special type of savings account.

You deposit your money into the account and agree not to make any withdrawals for a certain period of time. At the end of that time, you get your money PLUS anything earned in interest back.

How does a CD work?

When your CD matures, or reaches the end of its term, you have a grace period to decide what to do with it. You can:

  • Deposit the money into a new CD with different rates and terms
  • Deposit the money back into a traditional savings or checking account
  • Renew the CD at the same rate and term

What is APY?

The annual percentage yield (APY) is the real rate of return earned on an investment.

 CD rates & terms available

Certificates of Deposit

TermMin. Opening DepositMin BalanceInterest RateAPY
3-month$2,500.00$2,500.000.010 % 0.010 %
6-month$2,500.00$2,500.001.240 % 1.250 %
1-year$500.00$500.001.490 % 1.500 %
1 1/2-year$500.00$500.001.390 % 1.400 %
2-year$500.00$500.000.900 % 0.900 %
2 1/2-year$500.00$500.000.950 % 0.950 %
4-year$500.00$500.001.240 % 1.250 %
5-year$500.00$500.002.480 % 2.500 %
18-month IRA CD$500.00$500.001.000 % 1.000 %
48-month IRA CD$500.00$500.001.240 % 1.250 %
60-month IRA CD$500.00$500.002.480 % 2.500 %
18-month IRA Builder CD$50.00$50.000.650 % 0.650 %

Please see the account terms and conditions for full details. A withdrawal, interest rate change, or imposition of fees will reduce earnings. The Annual Percentage Yield and interest rate disclosed are based on the bank's disclosed compounding frequency for the appropriate term. Daily balance is the amount of principal in the account each day. There is a substantial penalty for early withdrawal on CD's.

Selected Rates current as of 9/9/2022, for approved customers.

 Silver Hawk Club CD rates & terms available

To learn more about our Silver Hawk Club click here.


Silver Hawk Club Certificates of Deposit

TermMin. Opening DepositMin BalanceRateAPY
3-month SHC CD$2,500.00$2,500.000.260 % 0.260 %
6-month SHC CD$2,500.00$2,500.001.490 % 1.500 %
1-year SHC CD$500.00$500.001.740 % 1.750 %
1 1/2-year SHC CD$500.00$500.001.640 % 1.650 %
2-year SHC CD$500.00$500.001.140 % 1.150 %
2 1/2-year SHC CD$500.00$500.001.190 % 1.200 %
4-year SHC CD$500.00$500.001.490 % 1.500 %
5-year SHC CD$500.00$500.002.720 % 2.750 %

Please see the account terms and conditions for full details. A withdrawal, interest rate change, or imposition of fees will reduce earnings. The Annual Percentage Yield and interest rate disclosed are based on the bank's disclosed compounding frequency for the appropriate term. Daily balance is the amount of principal in the account each day. There is a substantial penalty for early withdrawal on CD's.

Selected Rates current as of 9/9/2022, for approved customers.

 How to open a CD

To open a CD, visit one of our 17 branch locations.

View Locations


6-MONTH CERTIFICATE OF DEPOSIT

A $2,500 minimum opening deposit is required for the 6-month certificate of deposit.  Interest is compounded quarterly.  A penalty will be imposed for early withdrawal.  Offer is not available for institution funds.  The Annual Percentage Yield is accurate as of September 9, 2022 and may be withdrawn at any time.
*APY for a 6-month Silver Hawk Club Certificate of Deposit.  Silver Hawk Club rates are available to individuals 50 years of age or older who maintain minimum depository balances of $5,000 in any checking account, savings account, certificate of deposit or combination of deposit accounts.
**APY for a 6-month certificate of deposit.