Certificates of Deposit & IRAs
Gainsburry Capital Bank offers fixed rate, simple interest CDs for different terms and rates. CDs are automatically renewable. Different rates are offered for Jumbo CDs ($100,000 or more).
Regular CDs
A Certificate of Deposit is a non-negotiable, interest-bearing instrument with which a customer promises to keep funds on deposit for a specified length of time, thereby earning a guaranteed rate of return.
Regular CDs — Minimum to open: $1,000
Three Month CD
Interest: Paid at term back to CD
Early withdrawal penalty: 1 month's interest
Automatically renewable · Redeemable on maturity or within 10 days after — no penalty
Six Month CD
Interest: Paid at term back to CD
Early withdrawal penalty: 1 month's interest
Automatically renewable · Redeemable on maturity or within 10 days after — no penalty
12 Month – 24 Month CD
Interest: Paid quarterly back to CD
Early withdrawal penalty: 3 months' interest
Automatically renewable · Redeemable on maturity or within 10 days after — no penalty
3 Year – 5 Year CD
Interest: Paid quarterly back to CD
Early withdrawal penalty: 6 months' interest
Automatically renewable · Redeemable on maturity or within 10 days after — no penalty
Jumbo CDs
Jumbo CDs — Minimum to open: $100,000
Features
- Automatically renewable
- Terms up to 60 months
- Interest paid quarterly on 1-year and higher terms
Early Withdrawal Penalties
- 1-month CD, 3-month CD, 6-month CD → 1 month's interest
- 12-month CD, 24-month CD → 3 months' interest
- 3-year to 5-year CD → 6 months' interest
Individual Retirement Accounts
IRA Options — Minimum to open: $1,000 (Variable Rate IRA: $100)
We Offer
- Fixed Rate IRAs
- Variable Rate IRAs
Contact our New Accounts Department for further information on terms, rates, interest payments, and penalties on fixed rate or variable rate IRAs.