Businesses are always looking for ways to add dollars to their bottom line. Certificates of Deposits are a popular choice because they offer better returns than most standard savings accounts. At Cashmere Valley Bank, we go one better - our 12-Month Variable CD features attractive rates, while also allowing unlimited additional deposits that can take your earnings to even higher levels.
- $100 minimum deposit, no monthly fee
- Additional deposits are accepted at any time
- Variable interest rate that can change during the CD's 12-month term
- Withdraw interest earnings during the CD term without penalty
- CD automatically renews unless you notify Cashmere Valley Bank
- The only charge on any CD is if you withdraw from the principal balance before the maturity date, known as an early withdrawal penalty
- Safe, secure savings tool with funds insured by Federal Deposit Insurance Corp (FDIC)
Early Withdrawal Penalties
Your best bet is to keep your money invested for the full term. If you withdraw your principal before your CD matures, you'll be sacrificing interest. The amount depends on your CD's term:
- 3 month term: 1 month interest
- 6 to 12 month term: 3 month interest
- 12 to 60 month term: 6 months interest
- Over 60 months to 7 years term: 12 months interest