Certificates of Deposit (CDs) at Ultima Bank
Looking for a way to grow your savings? Ultima Bank’s Certificates of Deposit (CDs) make it easy to plan for the future with confidence. Our CDs combine competitive interest rates, flexible term options, and guaranteed returns, so you can choose the strategy that fits your financial goals, both short- and long-term.
Start building your financial future today. With Ultima Bank, your savings aren’t just secure, they’re working harder for you. Visit your nearest Ultima Bank location today to open your account and start securing your financial future.
Find a Location Current Rates
.webp)
CD Features and Terms
At Ultima Bank, we require a minimum balance of $1,000 to open a personal Certificate of Deposit (CD), with interest beginning on day of deposit. For our 3, 6, and 9 month options, your interest is paid at maturity; terms of 12 to 60 months, interest is compounded and paid every six months. All terms use a daily balance method to calculate your interest.
No additional deposits or withdrawals are permitted until your CD reaches maturity. If an early withdrawal does occur, you will be penalized one month of interest on products with terms of 12 months or less, and three months’ interest on terms longer than 12 months.
Upon maturity, your CD will automatically renew and you will have a 10-day grace period to withdraw your funds without penalty.