There's no telling what you could need extra money for in the near future. Or maybe you already know what you need as part of your business plan. Either way, when you invest your reserve funds in a High Yield CD, you grow your money some of our highest rates. For planned expenses, unexpected costs or anything else, start generating dividends to benefit your business.
- $100 minimum deposit, no monthly fee
- CD automatically renews unless you notify Cashmere Valley Bank
- Withdraw interest earnings during the CD term without penalty
- 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 protected by the 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