Most Certificates of Deposit offer the same fixed interest rate for the entire savings period. It's usually a good rate, which is why CDs are popular. But the Cashmere Valley Bank 24 Month Rising Rate CD has a special feature that can lead to even more profitable results. If interest rates rise at any point during the 24-month period, you can switch to the new higher rate and power up your earnings.
- $100 minimum deposit, no monthly fee
- CDs feature higher rates than most standard savings accounts
- You may contact us and bump up this CD's rate once during the 24-month term
- CD automatically renews unless you notify Cashmere Valley Bank
- You may withdraw interest earnings during the CD term without penalty.
- Safe, secure savings tool with funds protected by the Federal Deposit Insurance Corp (FDIC)
- The only charge on any CD is if you withdraw from the principal balance before the maturity date, known as an early withdrawal penalty
Early Withdrawal Penalties
The key to maximizing your savings in a CD is to keep your money invested for the full term. If you withdraw your principal before your CD matures, you'll be giving up a certain amount of interest based 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