Guarantee CD
A unique certificate of deposit with a short maturity term of
one year. When you open your CD, you will receive an interest rate
that is your "guaranteed rate". During the one year term, your
money will earn at least this rate of interest.
And the rate automatically increases each calendar quarter if
the bank's posted Guaranteed CD interest rate increases.
- 12 month maturity term
- Variable interest rate
- $500 minimum opening balance
- Additional deposits are not allowed until maturity
- Initial interest rate is the "guaranteed" rate and
the rate will increase if the posted Guarantee CD rate
is higher than the initial rate at calendar quarter on day 30.
- Penalty for early withdrawal
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