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Certificates of Deposit


With our CDs, your return rates are locked in; market fluctuations won't impact the interest you earn. It's the assurance your future deserves.
 

  • Lock-In Competitive Rates
  • Fixed-Term Investments
     

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12 Month CD

  • 3.85% APY*
  • Minimum Balance To Open: $500

24 Month CD

  • 3.34% APY*
  • Minimum Balance To Open: $500

36 Month CD

  • 3.14% APY*
  • Minimum Balance To Open: $500


CD disclosure details:

Annual percentage yield (APY) will be paid until maturity. Certificates will automatically renew at maturity. Interest for that renewal term will be paid at the APY then in effect at the Bank for similar accounts. Fees may reduce earnings. The advertised APY is accurate as of today’s date.

Diverse Terms: Tailored to Your Timeline

Your financial goals are as individual as you are. That's why Peak Bank offers 3 different term options for our CDs. Whether you're planning for a near-term goal or building a nest egg for the future, there's a CD term that aligns with your aspirations.


Customize Your Savings Strategy:
 

  • Short to Long Durations: Select from a variety of terms:  12 month, 24 month or 36 month options.
  • Tailor your investment strategy with the term that best suits your goals.
     
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Why Invest in CDs with Peak Bank?

 

  • Guaranteed Growth: Enjoy peace of mind knowing your investment is not only safe but also guaranteed to grow, regardless of market volatility.

  • Flexible Planning: With our diverse range of terms, you have the freedom to plan your financial future on your terms.

  • Uncomplicated Investing: CDs with Peak Bank offer a straightforward path to saving. No hidden fees, no complex terms - just solid, straightforward savings growth.

  • Backed by Peak Security: Rest easy knowing your investments are protected under the FDIC insurance limits, offering you an extra layer of security.
     

12x National Average

Certificates of Deposit FAQs

A Certificate of Deposit (CD) is a savings product offered by banks and credit unions that pays a fixed interest rate on a lump-sum deposit for a specified period.

Peak Bank offers 12-month, 24-month, and 36-month CD terms.

The minimum amount required to open a Peak Bank CD is $500.

No, you cannot add more money to a CD after it has been opened.

No. Accrued interest will post directly to your CD on a quarterly basis. 

Yes, but any money you withdraw from your CD before the maturity date may be subject to an early withdrawal penalty. Refer to the disclosures provided at account opening or contact us to determine the early withdrawal penalty for your CD.

When your CD matures, you can choose to redeem the balance or allow it to renew. You will have a 10-day grace period, starting with the maturity date, to redeem your CD without being charged a penalty. If no action is taken during the grace period, your CD will automatically renew for the same term. Interest for the renewal term will be paid at the APY then in effect for similar accounts. If you do not want your CD to renew automatically, please contact us within 10 days after the maturity date. 

The grace period is 10 days, beginning on the maturity date. The grace period allows you to redeem a CD and avoid an early withdrawal penalty.

Yes. We will email you 30 days prior to the maturity date to let you know that your CD is scheduled to mature.  

Upon maturity, you can request to redeem your CD or allow it to automatically renew. If you wish to redeem your CD, contact us to arrange disbursement of the funds. If you do not take action to redeem your CD, it will automatically renew for the same term. Interest for the renewal term will be paid at the APY then in effect for similar accounts. You can contact us on or after your maturity date to learn the rate and annual percentage yield for your renewal account.  

No. Peak Bank does not provide statements for CDs. You can view your account details anytime by logging into online or mobile banking.

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