Certificate of Deposit

Turn that 'someday' purchase from a dream into reality. A Certificate of Deposit (CD) account allows your money to mature, enabling you to save for college, a home, or any other significant purchase.

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Certificate of Deposit (CD) vs Savings Account

Trying to decide whether you need a savings account or a CD account? Here are the main differences to know.

Account Type CD Statement Savings Account
Yield Higher Lower
Interest Rates Your rates are locked in for the term you select.  Variable rates
Access to Funds Penalties apply if funds are withdrawn prior to the stated maturity date Unlimited withdrawals. 
Maintenance Fees None $2.00 monthly if minimum balance not maintained

1 Preauthorized withdrawals or transfers are limited to a combined total of six per account cycle.

Conveniently Apply Online.

Don't Want to Apply Online?

Visit any RiverWood Bank location or call (888)751-5120to speak with a banker.

Certificate of Deposit (CD)

Plan for the future with a Certificate of Deposit through RiverWood Bank. Our CDs allow you to mature your money, so you can save for college, a home or other large purchases.
  • $500 minimum deposit to open a certificate account
  • Interest-bearing deposit with rate based on term of certificate (contact a banker for rates)
  • Certificate accounts may be set up as Individual Retirement Accounts (IRAs)
  • Penalties apply if funds are withdrawn prior to the stated maturity dates
CD Early W/D Penalties
  • < 12 = 3 mos penalty
  • 12 to 23 = 6 mos penalty
  • 24 and >

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Still Have Questions?

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