Certificates of Deposit (CDs)

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Let’s say you have some extra cash — maybe a bonus or a well-nurtured nest egg, but nothing to spend it on. Not a bad problem to have. You could buy stocks and just hope for the best, or get a guaranteed return with a federally insured certificate of deposit. Earn fixed rates higher than Personal Savings. The longer you wait, the richer you’ll be — longer terms receive even higher rates. And there are no setup or maintenance fees diminishing your return.

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*Limited-time offer that may be withdrawn at any time. Annual Percentage Yield (APY) is valid as of 07.02.2018. Minimum balance to open this Certificate of Deposit (CD) and earn the stated APY is $1,000 in new money. New money is defined as money that was not on deposit with NorStates Bank at or within 90 days prior to account opening. Money must remain on deposit for length of time specified to earn stated APY. Upon maturity, this CD will automatically renew in 12-month intervals earning the then current APY of the traditional 12-month CD. Penalty for early withdrawal. Fees may reduce earnings. Offer is restricted to consumer accounts only and is not valid for brokered deposits, institutional investors, or public funds. IRAs are eligible.

Summary
  • Fixed rates, higher than Personal Savings
  • Receive higher rates by selecting a longer term
  • Provides more guarantee than other risky investments
  • Set aside for future savings goals
  • A wide range of terms available (from 30 days to 5 years)
  • No setup or maintenance fees
  • Early withdrawals subject to penalty*
  • $1,000 minimum deposit to open

You’re so close — start the application process!

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*Early withdrawal penalties (Principal may not be withdrawn before maturity. Interest may only be withdrawn as determined at the time the account is opened. A penalty may be imposed for withdrawals of any principal before maturity.)

  • If your account has an original maturity of 7 through 89 days, the penalty will be equal to the interest on the amount withdrawn that would have been earned had it remained deposited during the entire term of the CD plus 3% of the principal balance. The penalty will affect the principal.
  • If your account has an original maturity of a term up to twelve (12) months, the penalty will be equal to a 90-day interest penalty plus a 3% penalty of the principal balance. The penalty will affect the principal.
  • If your account has an original maturity of a term greater than twelve (12) months, the penalty will be equal to a 180-day interest penalty plus a 3% penalty for the principal balance. The penalty will affect principal.

In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. Other exceptions may also apply, for example, if this is part of an IRA or other tax-deferred savings plans.