Certificates of Deposit (CDs)
Time and money make a powerful combination
Mapping out the future includes charting the best course for your money. Whether your plans call for extra funds in a few months or several years, West Gate Bank® CDs can help you reach those goals. Choose your savings period, lock in an attractive rate and feel confident that positive results will follow.
- Choose a Certificate of Deposit ranging from 6 to 60 months
- Minimum initial deposit of $1,000 (additional deposits are not permitted)
- Fixed rate - the interest rate* and annual percentage yield* will not change for the account term, unless otherwise stated
- CDs feature higher returns than most standard savings accounts
- CDs automatically renew (You have 10 calendar days after the maturity date to withdraw funds without penalty)
- Interest is calculated using the daily balance method - a daily periodic rate is applied to the principal in the account daily
Visit a branch to open Certificates of Deposit.
*Annual percentage yield = received when funds remain in the account (interest is not taken out). Interest rate = received when interest is received by the customer, rather than allowing the interest to remain in the account.
The Annual Percentage Yield (APY) may change if not held to maturity. Fees could reduce earnings.
^Rate disclosed is for customers of West Gate Bank with Certificate of Deposit balances below $250,000. Add 0.25% to interest rate for balances at or over $250,000.00, No Term IRA excluded.
The penalty structure for early withdrawal on CDs is as follows: Twelve months interest earned or not, regardless of term.
*Minimum = Minimum balance required to open an account. Annual Percentage Yield (APY) obtained on all balances.
**The Annual Percentage Yield (APY) assumes interest will remain on deposit until maturity. A withdrawal of interest will reduce the earnings and APY.
All rates are subject to change without notice. Call 402.434.3456 for current information.