- Competitive interest rates
- Wide range of terms available — 91 days to 12 months
- Interest compounded daily and paid according to the CD you choose
- Automatic CD renewal1
- Option to withdraw funds at maturity2
- FDIC Insurance up to $250,000
How Can a Commercial CD Help Your Business?
Solutions to Fit Your Needs
FAQs
If you make an early withdrawal, there is a penalty fee outlined in your agreement.
A commercial Certificate of Deposit (CD) is a time deposit account offered by banks to businesses. It differs from regular savings accounts in that it has a fixed term, typically ranging from a few months to several years, during which the deposited funds remain untouched. In return for locking in their funds, businesses receive a higher interest rate compared to standard savings accounts.
Businesses can enjoy several advantages by utilizing a commercial CD account. CD accounts generally offer higher returns than standard savings accounts while also ensuring predictable returns on the deposits.
A commercial CD account plays a strategic role in a business's financial planning and strategy by locking in a set interest rate for a deposit for a set period in time. This function allows for businesses to receive predictable returns on the deposit amount until the end of the CD term.
Commercial Bankers with You Every Step
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Commercial Insights
1 CD accounts will automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without penalty. This account will not renew if you withdraw the funds on the maturity date or if we receive written notice from you on or before the maturity date of your intention not to renew.
2 You will be notified at maturity; a penalty may be assessed for early withdrawal.