Certificate of Deposit Account or CD at Bank of Coral Gables 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.
Your banker can help you decide which term is best for you in accordance with your needs.
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. There is a 10 day grace period during which time you may withdrawal all or part of the CD balance before renewal.
Please click here for current rates.
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of principal, you may be required to pay an early withdrawal penalty, regardless of the length of time the funds withdrawn have remained in the account.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 interest penalty is calculated on the rate of interest the certificate is currently earning. The early withdrawal penalty applicable to your CD Account is based on the original term of the certificate.
- 7 Day or less original maturity – All interest
- 30 Day or less original maturity – 7 Days Interest Penalty
- 90 Day or less original maturity – 3 Months Interest Penalty
- 60 Month or less original maturity – 6 Months Interest Penalty
