Certificates of Deposit
Looking for a way to grow your company’s reserves? Ultima Bank’s Business Certificates of Deposit (CDs) provide a smart, reliable way to plan for the future with confidence. Our business CDs combine competitive interest rates, flexible term options, and guaranteed returns; you choose the strategy that aligns with your organization’s financial objectives, whether you’re planning for short-term liquidity or long-term growth.
Locations Current Rates
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Features and Terms
There is a minimum deposit of $1,000 required for all business Certificates of Deposit (CDs). Every account earns interest at the listed rate for the term you have selected until your certificate reaches maturity. Interest begins to accrue on day of deposit. For our 3, 6, and 9 month offerings, your interest will be credited at maturity, while for our CDs with terms more than 12 months, interest is compounded and credited every six months. Annual Percentage Yield (APY) assumes the interest on your CD remains until maturity, and any early withdrawals will reduce your earnings. Ultima Bank uses the daily balance method to calculate your interest and applies a daily periodic rate to the principal each day.
After opening your account, no additional deposits or withdrawals are allowed until your CD has reached maturity. If we approve an early withdrawal, a penalty will be applied in the form of one month's interest on CDs with terms of 12 months or less, and three month's interest for CDs with terms over 12 months. At maturity, your account automatically renews and you will have a 10-day grace period to withdraw your funds without penalty.