Business Banking - Certificate of Deposit

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.  More Info »

** There is a penalty for early withdrawal from a Certificate of Deposit Account.  Fees may reduce earnings.

    Certificate of Deposit Interest Rates

    Term Interest Rate APY*
    5 - month 0.40% 0.40%
    11 - month 0.50% 0.50%
    15 - month 0.50% 0.50%
    24 - month 0.74% 0.75%
    36 - month 0.99% 1.00%
    48 - month 1.24% 1.25%
    60 - month 1.49% 1.50%

    *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. Penalties may be imposed for early withdrawals which may reduce your earnings.

    Annual Percentage Yields effective 6/16/2015. Rates are subject to change at any time.

    Our Business Is Small Business.
    1370 S County Trl., East Greenwich, Rhode Island 02818   |   888-824-8873