Certificate of Deposit (CD)

For those looking to grow their savings, a Bankers Trust Certificate of Deposit (CD) can be a good choice. A CD is an FDIC-insured investment option where money is put into an account that is not used for a period of time. This allows you to earn interest at a predetermined rate, which tends to be higher than most checking accounts.

CD and CD IRA Features

  • Interest compounded annually
  • Interest may be disbursed monthly, quarterly, semi-annually, annually, or at maturity by transfer to your Bankers Trust account or electronic transfer (ACH) to your account at another institution
  • To open, $1,000 minimum deposit for CDs and $200 minimum deposit for CD IRAs
  • $500 minimum deposit required for savers under age 18
  • Bankers Trust Wellness Option allows early withdrawal without penalty* when you have a Bankers Trust primary checking account** and need to redeem CD early due to a medical emergency
  • Automatic renewal option

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* Federal law requires an interest penalty of 7 days’ interest be paid on amounts withdrawn within the first six days of deposit. Wellness option does not apply to Health Savings Account (HSA) CDs
**A Primary Checking account is the account into which you routinely deposit the majority of your income or benefits from any source and against which you routinely authorize payment of the majority of your expenses each calendar month.

Health Savings Account (HSA) CDs

Funds held in a Bankers Trust Health Advantage Checking are eligible for deposit into a CD.

  • Minimum opening deposit: $1,000
  • HSA CD interest must either be added to the CD or paid directly to your Health Advantage Checking
  • If you redeem the HSA CD, the money must be transferred back to your Health Advantage Checking
  • Early withdrawals of principal made for any reason, including medical expenses, are subject to penalty​

HSA CDs must be opened in a Bankers Trust branch.

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