Save on Your Terms
Like Regular Savings Accounts, certificates of deposit (CDs) allow you to save money but with a fixed interest rate and a fixed timeframe. CDs are a safe, convenient way to save for your retirement, vacation, new home, college education and more!
- Minimum balance to open: $1,000.00
- Terms range from 90 days to five (5) years
- Interest can be deposited into another PWSB account, reinvested into the CD or paid out by check
- A penalty may be imposed for withdrawals before maturity
Tip: You can use the FDIC’s Electronic Deposit Insurance Estimator (EDIE) to calculate the insurance coverage of your accounts.
LADDERING YOUR CDs
If you’re worried about having access to funds deposited into CDs, consider a laddering approach.
By opening longer-term CDs at different times, your CDs will come due every year, 6 months or even more frequently. By staggering when your CDs mature, you retain the ability to access funds without incurring a penalty.
Laddering also gives you the opportunity to invest during different rate environments and enjoy better returns than investments in savings accounts, money market accounts or short-term CDs.
Certificate of Deposit Special Offers
| Product/Term | Minimum Balance to Open | Minimum Balance to Receive APY* | Simple Interest Rate | APY* |
|---|---|---|---|---|
| 9-Month CD | $1,000.00 | $1,000.00 | 4.22% | 4.30% |
| 18-Month CD | $1,000.00 | $1,000.00 | 3.69% | 3.75% |
Certificates of Deposit
| Product/Term | Minimum Balance to Open | Minimum Balance to Receive APY* | Simple Interest Rate | APY* |
|---|---|---|---|---|
| 90 Days | $1,000.00 | $1,000.00 | 0.50% | 0.50% |
| 182 Days | $1,000.00 | $1,000.00 | 0.75% | 0.75% |
| 1 Year $1,000.00 – $9,999.99 |
$1,000.00 | $1,000.00 | 2.13% | 2.15% |
| 1 Year $10,000.00 or More |
$1,000.00 | $10,000.00 | 2.23% | 2.25% |
| 2 Year $1,000.00 – $9,999.99 |
$1,000.00 | $1,000.00 | 2.13% | 2.15% |
| 2 Year $10,000.00 or More |
$1,000.00 | $10,000.00 | 2.23% | 2.25% |
| 3 Year $1,000.00 – $9,999.99 |
$1,000.00 | $1,000.00 | 2.13% | 2.15% |
| 3 Year $10,000.00 or More |
$1,000.00 | $10,000.00 | 2.23% | 2.25% |
| 4 Year $1,000.00 – $9,999.99 |
$1,000.00 | $1,000.00 | 2.13% | 2.15% |
| 4 Year $10,000.00 or More |
$1,000.00 | $10,000.00 | 2.23% | 2.25% |
| 5 Year $1,000.00 – $9,999.99 |
$1,000.00 | $1,000.00 | 2.13% | 2.15% |
| 5 Year $10,000.00 or More |
$1,000.00 | $10,000.00 | 2.23% | 2.25% |
Important Terms
- Fees could reduce the earnings on these accounts.
- Certificates of Deposit and Individual Retirement accounts are fixed rate accounts and time deposits.
- We may impose a penalty for an early withdrawal from a Certificate of Deposit or IRA.
- The 9-month and 18-month CD specials have a required minimum balance of $1,000 to open. These CD specials also have a $1,000 required minimum balance to obtain the stated APY for Minors, Students or Organizations.
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