Certificate of Deposit (CD)
For those looking to grow their savings, consider a Bankers Trust Certificate of Deposit (CD). 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 savings 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
- $1,000 minimum deposit for CDs and $200 minimum deposit for CD IRAs to open
- $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 your CD early due to a medical emergency
- Automatic renewal option
Health Savings Account (HSA) CDs
Funds held in a Bankers Trust Health Advantage Checking account 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 account
- If you redeem the HSA CD, the money must be transferred back to your Health Advantage Checking account
- 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.
Ready to start saving? Contact us using the form below for more information.
* Federal law requires an interest penalty of 7 days’ interest be paid on amounts withdrawn within the first six days of deposit.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 a checking account in which the following requirements are met each 60 days.
1) 25 debit transactions. A “debit transaction” for the purpose of this section means a debit to your checking account from an ACH, Bankers Trust bill payment, drafting checks, or use of your debit card as a method of payment or purchase. A “debit transaction” does not include debits to your checking account that originated from ATM withdrawals, or other debits to your checking account, and,
2) 2 direct or mobile express deposits of at least $200 each. A “deposit” for purposes of this section does not include ATM deposits, deposits made in person, account-to-account transfers, or other deposits to your checking account.