Bank Certificate of Deposit accounts are fully insured by the FDIC and the DIF
(Deposit Insurance Fund). Our Certificate of Deposits offer many flexible terms
and a convenient renewal process. You can lock in a specific dollar amount ($1,000
minimum) with a high interest rate for 3 months minimum, to as long as 5 years.
All Certificates can be used to help customers with their loan needs by using
the amount in the Certificate of Deposit as security for a Cambridgeport Bank
CERTIFICATE OF DEPOSIT FEATURES
terms for variable investment opportunities
safe investment with a guaranteed rate of interest for a given period of
or renew your Certificate 7 days a week directly over the phone
period for renewals
may be used as collateral for rebuilding credit with a Cambridgeport
- Withdrawing your principal
from a CD at any time before the maturity date will result in penalty. However,
a customer can withdraw all or part of their posted interest at any time without
incurring a penalty.
- No interest will be paid
during the grace period following the maturity date.
- All customers can allow
their interest to accumulate in their CD or have it transferred to a Checking
or Savings account. Customers with a CD balance of $5,000 or greater can request
a monthly interest check.
Rate / Term
- The interest rate is fixed
for the term of the CD.
- The interest accrues daily
and is compounded monthly on the last day of the month.
- Interest on a CD account
will always be calculated to the end of the month, even if the CD balance is shown
on a combined statement that cycles on a date other than the 31st of the month.
- Interest checks are cut
on the last night of the month, issued the following day and mailed out on the
3rd of the month.
Balance / Service Charges
- The minimum balance is
- If an early withdrawal
occurs, the customer will be penalized:
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