When you have some extra money you can set aside and you want it to grow quickly, consider our High Yield CD. When you keep your money deposited for a few months, you'll enjoy some of our highest rates at Cashmere Valley Bank. This is a great tool to save up for a purchase or build up an emergency fund.
- $100 minimum deposit, no monthly fee
- CD automatically renews unless you notify Cashmere Valley Bank
- Withdraw interest earnings during the 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
- FDIC insurance makes CDs a secure investment with fixed-rate growth
- Safe, secure savings tool with funds protected by the Federal Deposit Insurance Corp (FDIC)
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