Simply Business CDs
Higher interest. Risk-free. Guaranteed yields. Insured up to $250,000 by the FDIC. You’ll find our Simply Business CDs open doors for your personal business. Need a business loan? Your Simply Business CD can act as collateral. It’s also a safe and secure place for investing business proceeds. Open one for as little as 12 months. Interest accrues the day you make your deposit.
Grow your CD investment.
Give yourself access to a pool of cash. Our CDs are a stable, short-term investment tool. They’re low-risk and can be a solid choice in your business financial portfolio. It also serves as collateral when you apply for a loan or corporate credit card.
Uncomplicate business investing.
A Simply Business CD is safe and rewarding. It’s simply worth every penny.
Simply Business CD’s
- $1,000 Minimum Deposit
- Normal terms offered from 12 months to five years
- Special terms occasionally offered
- Interest can be paid by Compounding, Paper Check, or Transfer
- Early withdrawal penalties may apply and fees may reduce earnings
*A substantial penalty may be imposed for early withdrawal on CDs. On non-compounding CDs with term greater than one year, interest cannot remain on deposit and payout of interest is mandatory. For additional rate, fee and cost information, please refer to account disclosure statement.
*^A minimum balance of $25.00 is required to obtain the advertised APY on Individual Retirement Accounts (IRAs). A substantial penalty may be imposed for early withdrawal on IRAs. For additional rate, fee and cost information, please refer to disclosure statement.
- Online Banking
- Mobile Banking
- 24 Hour Telephone Banker
- Safe Deposit Box
Here to Help
When it comes to your business, be sure you come to us. We’re here to help, that means offering products that are the exception and service that demonstrates we understand you and your business. We’re from here. We know your success is this community’s success. We’re here to ensure that success now and in the future.
You must have a Taxpayer Identification Number to open an account with SimplyBank. The following documents are acceptable for bank verification required when opening account:
- Driver’s License – first choice of identification
- Certified articles of incorporation, including LLCs
- Operating Agreement
- A government-issued business license
- A partnership agreement – if applicable
- Trust Agreement
Beneficial ownership and control information must be collected for all new business accounts beginning May 11, 2018. An individual is a beneficial owner if they own 25% or more of the business entity. The control is the individual who has significant responsibility for managing or directing the entity on a regular basis. A New Business Account Questionnaire will be completed at account opening that collects information regarding business type, transactional behavior, privately owned ATMs, etc.
Includes Sole Proprietor, Single Member LLC, Partnerships, LLCs, Corporations, and Trusts.