Invest Now & Harvest the Savings Later with a Certificate of Deposit
11/01/2015
Commonly referred to as a CD, a certificate of deposit is a special type of timed deposit account that offers a fixed interest rate for a fixed term. When you open a CD, you must keep your funds in the account for a specific period of time to avoid penalties. In exchange, you receive a higher interest rate than a regular savings account. Generally, customers get a better rate by selecting a longer savings period. A two-year CD will most likely have a higher interest rate than a six-month CD. Always read the Truth in Savings Act paperwork to get a clear picture of rates, terms, and conditions.
As you get closer to the end of your CD's term, Solvay Bank will remind you about the end date and whether the account renews automatically. Take the opportunity to explore new interest-bearing deposit account options and ask if there are any current promotions.
Fall into savings with Solvay Bank.
2.00% APY* 37-Month Certificate of Deposit with a Solvay Bank Checking Account
1.50% APY* 36-Month Certificate of Deposit without any checking account relationship.
Learn more and apply now.
*Annual Percentage Yield accurate as of 10/21/2015. APY of 2.00% requires account holder to have a related Direct Rewards or High Interest Checking account with cumulative monthly direct deposits of $500. Established Direct Deposit means Solvay Bank must receive funds electronically, from third party. APY of 1.50%, for 36 month term, does not require any additional account relationships. Minimum balance to open and earn APY is $500; maximum deposit is $100,000. Offer for personal accounts only; must be opened with new money not currently on deposit at Solvay Bank and is limited to one account per tax identification number per year. Penalty may be imposed for early withdrawal. Other restrictions may apply. Member FDIC.