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CDs Are a Low Risk Savings Solution with a Variety of Term Options.

Use a certificate of deposit as a low risk savings solution with a fixed interest rate. No monthly service charge, and only $1,000 to open.

 

Additional Terms to Meet Your Needs

Offering maturities online or in a branch for 60 days, 90 days, 182 days [6 months], 7 months, 9 months, 1 year, 2 years, 3 years and 5 years. IRA certificates of deposits are available with a 1 year, 2 year, 3 year or 5 year maturity and can be opened in a branch.


Rates and Yields

Term Interest Rate APY*
30 days 0.10% 0.10%
60 days 0.10% 0.10%
90 days 0.10% 0.10%
182 days 4.85% 4.85%
7 month 5.75% 5.75%
9 month 5.13% 5.13%
1 year 4.89% 5.00%
2 years 2.96% 3.00%
3 years 2.81% 2.85%
5 years 2.81% 2.85%

All Terms have a $1,000 minimum to open.
**New money Only. *New Money Only. New money is defined as funds not currently held by Presidential Bank and must be from an external source of funds.


Important Information

  • Interest rewarded on the last day of the month for maturities of 1 year or more, or at maturity for shorter terms
  • No withdrawal of principal or additional deposits during term.
  • Automatically renews at maturity if not withdrawn.
  • CD's longer than 30 days have a seven calendar day grace period, beginning on the day of maturity, to withdraw /deposit funds without penalty. 30 day CD's have a grace period of 1 day to withdraw/deposit funds without penalty. CD interest can be withdrawn at any time after it is credited. Withdrawal of CD principal before maturity will be assessed a penalty equal to the amount of interest that would be earned during the number of penalty months shown below at the CD interest rate, on the CD principal amount that is withdrawn before maturity (whether or not such interest has actually been earned).


Penalty for Early Withdrawal

Early withdrawal penalty equals the amount of interest that would be earned during the number of penalty months shown below at the CD interest rate, on the CD principal amount that is withdrawn before maturity (whether or not such interest has actually been earned).

 
CD maturity Penalty
30 to 60 days 30 days
90 to 182 days 3 months
7 month 3 months
9 month 4 months
1 year 6 months
2 years 12 months
3 years 18 months
5 years 24 months
Last Modifications: 11/1/2023 12:10:51 PM