Certificates of Deposit (CDs)
Life can be unpredictable, so a little flexibility goes a long way. If you have money you don’t need to access for a while, our certificates of deposit (CDs) offer short-and long-term options customized to your goals. Whether you want your vacation fund to blossom before next summer’s trip — or simply want a safe place for your money to grow for a few years — CDs provide the flexibility your life demands.
How do CDs work?
There’s a penalty for withdrawing funds before the CD expires, so be sure you invest money you won’t need in the near future. In return for a hands-off policy on that money, you’re rewarded with interest rates that are typically higher than what you would find with checking or savings accounts. The specific rate of interest you’ll earn is determined by the amount of money you invest and the length of the CD term. And rest assured that because CDs are FDIC insured, they’re a secure investment.
Heritage Bank offers three CD types:
- 31-day certificate—interest is credited to the account when the term is up.
- 91-day to 60-month certificate—interest is compounded and credited to the account monthly.
- 30-month opt-up certificates—if rates go up during the CD term, you can request a one-time rate increase.
*Penalty for early withdrawal.
This is not a complete disclosure of account guidelines and fees. Please see a customer service representative for rates and complete details.