A Guaranteed Return for Business Funds for a Specific Term
Saving business funds is easy with a Tri Counties Bank Certificate of Deposit (CD). CDs allow you to earn a guaranteed return, even during times of uncertainty. Tri Counties Bank CDs are federally insured by the FDIC up to the maximum allowable limit.
When you purchase a CD, you invest a fixed sum of money for a fixed period of time – from one month to five years –and Tri Counties Bank pays you interest at stated intervals.
When you cash in or redeem your CD, you receive the money you originally invested plus any accrued interest. If you redeem your CD before it matures, you may have to pay an early withdrawal penalty or forfeit a portion of the interest you earned. If you do not redeem your CD when it matures, we reinvest the CD for you for a similar term.
- There is no Monthly Maintenance Fee.
- The minimum opening deposit is $1,000. ($250 for a Bond Guarantee CD.)
- Terms are available from one month to five years.
- Interest is fixed during the term of the certificate, but varies depending on the term and dollar amount of the CD.
- Interest compounds daily and is paid monthly, quarterly, annually or at maturity, depending on the term.
- Interest earned can be reinvested or automatically deposited to an assigned savings or checking account.
- CDs automatically renew for the same period if not withdrawn. *
- A penalty may be imposed for early withdrawal.
- Available to all businesses.
* - This does not apply to Public Funds CDs as they are single maturity and do not auto renew.