Business Time Deposit Accounts

Sometimes, it makes solid business sense to set aside and accrue funds for periods of time to help meet your long-range goals. For this purpose, we offer two types of savings vehicles with extended yet flexible terms as well as competitive rates that usually are higher than conventional savings accounts: a Time Deposit Account and an Upgrade Time Deposit (TD) Account.

Time Deposit Account Features

  • Flexible terms, from seven (7) days to four (4) years
  • Minimum opening deposit varies according to the term you select
  • Fixed rate for the term you choose
  • Interest paid monthly, quarterly or annually
  • Automatic renewal
  • 10-day grace period after maturity for withdrawals, additions, or changes in term, with automatic renewal
  • Service charge free electronic items

Upgrade TD Features

  • Flexible terms, from 12 to 18 months
  • $2,500 minimum opening deposit; $100 minimum additional deposit
  • Additional deposits anytime, up to your original balance amount
  • Interest paid monthly, quarterly or annually
  • Interest rate may be increased at your request to a rate in effect at the time
  • Rate increase limited to one time during the term of the TD
  • Not available to institutional rate shoppers

Note: for both Time Deposit and Upgrade TD accounts, a penalty may be imposed for early withdrawal.

FDIC insurance limit is $250,000 per depositor, per insured bank.

For more information, please contact your local branch or Customer Service at 541-617-3500 or 877-617-3400.