Personal Banking

Certificate of Deposit

Certificate of Deposit

What is a Certificate of Deposit?

A Certificate of Deposit, or CD, is a time deposit account that has a set period of investment and a return depending on the rate at the time the initial deposit is made.

  • A choice of maturity terms generally ranging from 6 to 60 months
  • Competitive interest rates
  • Interest is compounded quarterly
  • Automatically renewed at current rates upon maturity to insure there is no loss of earnings
  • FDIC insured
  • $2,000 minimum deposit to open the account

CDs carry penalties for early withdrawals.

Grow Your Savings with our 24 Month CD or IRA special featuring a .75% APY*!

Earn up to 1.00% APY* when you have or open other accounts with us, are enrolled in Online Banking and elect to receive e-Statements.

*Annual Percentage Yield (APY).  $2,000.00 minimum to open and earn the APY.  APY is accurate as of 3/3/2016.  To earn 0.85% APY, customer must have other account relationships with The Bank of New Glarus® and Sugar River Branches.  To earn the 1.00% APY, customer must be enrolled in Online Banking and elect to receive e-Statements from The Bank of New Glarus® and Sugar River Bank Branches.  Offer may be withdrawn at any time.  Funds may be new or existing money already on deposit at The Bank of New Glarus® and Sugar River Bank Branches.  A penalty may be imposed for early withdrawal.  Fees may reduce earnings.  Offer is good for individual accounts only.  See bank representative for complete details.

 

Rev Up Your Savings with our 4 Year CD or IRA Special featuring a 1.40% APY*!

Get this rate before it’s gone!

*Annual Percentage Yield (APY). $2,000.00 minimum to open and earn the APY. APY is accurate as of 11/13/15. Offer maybe withdrawn at any time. Funds may be new or existing money already on deposit at The Bank of New Glarus® and Sugar River Bank Branches. A penalty will be imposed for early withdrawal. Fees may reduce earnings. Offer is good for individual accounts only. See bank representative for complete details.

Reach for your dreams and save up for college with our Student Center CD!

Our Student Center CD is a time deposit account that has a set period of investment and a return depending on the rate at the time the initial deposit is made. Two withdrawals are allowed per year without penalty for educational purposes. Any other withdrawals will have a penalty.

  • Additional deposits can be made at any time
  • Parents, Grandparents, and Students can contribute to the Student Center CD
  • The Interest Rate is fixed for a two-year term
  • Interest is compounded quarterly
  • $100.00 minimum to open account

Save for a financially secure retirement with an IRA CD!

At The Bank of New Glarus® and Sugar River Bank Branches, we offer a variety of retirement products including Traditional IRAs, Roth IRAs, and CESA. IRAs offered through the Bank are time deposit accounts with a set period of investment and a return depending on the rate at the time the initial deposit is made.

  • Contributions may be tax deductible*
  • Earnings grow tax deferred
  • Interest remains the same throughout the term of the certificate
  • Interest is compounded quarterly
  • $100 initial deposit to open an Add-On IRA
  • $2,000 initial deposit to open any other type of IRA CD

*Check with your tax advisor to see if you qualify for the tax benefit