Certificate of Deposit
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| Personal CD product names | Certificate of Deposit | Individual Retirement Account (IRA) |
|---|---|---|
| Minimum Balance to Open | $1000 | $100 |
| Terms | 7 days to 3 years | 365 Days |
| Interest | Simple Interest1 | Simple Interest1 |
| Renewal | Automatic renewal for the same period | Automatic renewal for the same period |
| Grace Period | Ten (10) days | Ten (10) days |
| Internet Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| Telephone Banking | Yes | Yes |
| Early Withdrawal Penalty | Penalties may vary based on terms. | One (1) month’s interest. Subject to additional penalties by the state and federal governments. |
| Transaction Restrictions | Deposits and withdrawals are not allowed | Contributions and distributions may have certain tax consequences under the Internal Revenue Code sections governing Individual Retirement Accounts and Qualified Retirement Plans. Withdrawal(s) may reduce principle or earnings. |
1 Interest will be paid at maturity or annually, whichever occurs first.
Other restrictions may apply. For further account details, please contact or visit your nearest PCB Bank branch representative.
