Business Banking - Certificate of Deposit
| Certificate of Deposit Interest Rates |
| Term | Interest Rate | APY* |
| 5 - month | 0.40% | 0.40% |
| 11 - month |
0.50% |
0.50% |
| 15 - month | 0.74% | 0.75% |
| 24 - month | 0.99% | 1.00% |
| 36 - month | 1.24% | 1.25% |
| 48 - month | 1.49% | 1.50% |
| 60 - month | 1.73% | 1.75% |
|
*Annual Percentage Yield Minimum balance to open regular certificates of deposit is $1000. Minimum balance to open jumbo certificates of deposit is $100,000. Minimum balance to open a promotional certificate of deposit is $5000. |
||
CDs - Regular and Jumbo*
- $1,000 opening deposit ($100,000 for Jumbo CDs)
- Terms of 3 to 60 months
- Fixed interest rate and term
Promotional
- $5,000 opening deposit ($100,000 for Jumbo CDs)
- Fixed interest rate and term
- Interest is compounded monthly
CDARS
Enjoy up $50 million in FDIC Insured deposits with just one Bank…Independence Bank. No need to maintain accounts with multiple Banks to maximize your insurance coverage.
* There is a penalty for early withdrawal from Certificate of Deposit Account. Fees may reduce earnings.
