CD FAQs

The APY is an annualized rate of return that accounts for compounding interest. The Interest Rate is an annualized rate of return that does not account for the effect of compounding interest. The Interest Rate is the annual rate of return you would receive if you withdrew your interest earnings every period rather than add them back into the CD.

Interest earnings are compounded and paid quarterly based on the daily balance for the period.

Yes, you have the option of having the interest deposited back into the CD or to have it deposited to another account with Cashmere Valley Bank. Interest withdrawals are not penalized.

Your CD is auto-renewable. You will be notified by mail of the new effective interest rate and annual percentage yield. You will be given nine (9) calendar days after the original maturity date to opt-out of the renewal. If you choose not to auto-renew you may choose to have the balance automatically transferred into another account, or have a check mailed to you.

There is a nine (9) day grace period after the original maturity date which you have the opportunity to opt-out of the automatic renewal. If you do not opt-out and the CD does renew for another term, you will receive interest during the grace period. If, however, you do not choose to renew the CD you will not receive the interest accrued during the grace period.