A Certificate of Deposit Account or CD at Baytree is designed to give you a higher rate of return in exchange for a time commitment (term) on your deposit. The minimum amount to open this product is $1,000. Principal deposit amount over $100,000 are considered to be "jumbo" certificates are receive a higher rate. Certificate of Deposit Accounts will automatically renew at maturity, unless you have requested otherwise. If you have told us to not renew your CD, it will not earn interest after maturity.

Early Withdrawal Policy

When you make a deposit to a CD Account, you are agreeing to keep the funds on deposit until the stated maturity. We reserve the right to permit withdrawals of principal only upon maturity. If we permit you to make an early withdrawal of principal, you may be required to pay an early withdrawal penalty, regardless of the length of time the funds withdrawn have remained in the account. The early withdrawal penalty applicable to your CD Account is 1 month interest penalty for a termination with less than 6 months to maturity and 3 months interest penalty for a termination with more than 6 months until maturity. The interest penalty is calculated on the rate of interest the certificate is currently earning.

Upon opening a CD, you will receive a safekeeping receipt verifying the principal amount, the interest rate and the maturity of the CD. This receipt is in itself not a certificate of deposit or other instrument. The deposit and receipt are non-transferable, except on our records. After the account is opened you may not make deposits or withdrawals without penalty from the account until the maturity date.

We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Please click here for current CD rates. Your personal banker can help you decide which term is best for you in accordance with your needs.

Use this interest calculator to see how your invested funds will grow. Please consult a tax advisor regarding the deductibility of interest.