Certificate of Deposit

Take that “someday” purchase from a dream to reality. A Certificate of Deposit (CD) account matures your money so you can save for college, a home or other large purchase.

START OpenING a CD Talk to a Banker

 

Certificate of Deposit (Cd) vs Savings Account

Trying to decide whether you need a savings account or a CD account? Here are the main differences to know.

Account Type

CD

Statement Savings Account

Yield

Higher

Lower

Interest Rates

Your rates are locked in for the term you select.

 Rates may change, or you may choose a different account that will change your rates.

Access to Funds

Penalties apply if funds are withdrawn prior to the stated maturity date

Unlimited withdrawals by mail, in person or ATM. Up to 6 preauthorized transfers per month1

Maintenance Fees

None

$2.00 monthly if minimum balance not maintained

1 Preauthorized withdrawals or transfers are limited to a combined total of six per account cycle.

Conveniently Apply Online.

Start Opening an Account

Don't Want to Apply Online?

Visit any RiverWood Bank location or call (888)751-5120 to speak with a banker.

Certificate of Deposit (CD)

Plan for the future with a Certificate of Deposit through RiverWood Bank. Our CDs allow you to mature your money, so you can save for college, a home or other large purchase.

  • $500 minimum deposit to open a certificate account
  • FDIC Insured
  • Interest bearing deposit with rate based on term of certificate (contact a banker for rates)
  • Certificate accounts may be set up as Individual Retirement Accounts (IRAs)
  • Penalties apply if funds are withdrawn prior to the stated maturity dates
  • Bonus rates for Reward Checking customers on new certificates2

Start Opening a CD

CD Early W/D Penalties

  • < 12 = 3 mos penalty
  • 12 to 24 = 6 mos penalty
  • > 24 = 12 mos penalty

Still Have Questions?

Find FAQs, routing numbers and online banking tutorials in our Education Center.

 

1 Preauthorized withdrawals or transfers are limited to a combined total of six per account cycle.
2 Bonus rate does not apply to CD specials.

 

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