Certificates of Deposit (CDs) offer a higher rate of interest than regular savings accounts. BankGloucester offers competitive rates. If you are seeking a safe and secure way to earn interest on your money, a CD may be the right choice for you.
Rates Effective: July 1, 2024
Term | Minimum Deposit to Open Account | Minimum Balance to Earn APY* | Interest Rate | APY* | Compounding Frequency |
---|---|---|---|---|---|
6 Months | $2,500.00 | ||||
$2,500 - $49,999.99 | 4.85% | 4.85% | Simple | ||
$50,000.00 and over | 4.85% | 4.85% | Simple | ||
9 Months | $500.00 | ||||
$500.00 - $99,999.99 | 4.45% | 4.61% | Quarterly | ||
$100,000.00 and over | 4.45% | 4.61% | Quarterly | ||
12 Months | $500.00 | ||||
$500.00 - $99,999.99 | 4.35% | 4.51% | Monthly | ||
$100,000.00 and over | 4.35% | 4.51% | Monthly | ||
24 Months | $500.00 | ||||
$500.00 - $99,999.99 | 3.64% | 3.75% | Monthly | ||
$100,000.00 and over | 3.64% | 3.75% | Monthly | ||
36 Months | $500.00 | ||||
$500.00 - $99,999.99 | 2.75% | 2.83% | Monthly | ||
$100,000.00 and over | 2.75% | 2.83% | Monthly | ||
Fees could reduce earnings. On Certificate Accounts, a fee may be imposed for early withdrawal. Penalty calculation formula: [withdrawal amount x (annual interest rate/12) x number of months interest] |