skip to main content
HomePersonal BankingDeposit AccountsCertificate of Deposit

SPRING UP CD (Limited Time Offer)

Don't you just hate it when yield rates are going up but your CD is locked? Of course, you're still earning greater yields over a savings account. But still…

Well, we hear you. Impact Bank has created the Spring Up CD, allowing you to bump up to a higher rate once during your term. While traditional CDs are fixed throughout the term, this option lets you capitalize in the case that deposit rates have increased.

Open a new 24 or 36 month Certificate of Deposit at the current rate, and if rates go up during the term of your CD, you have a one-time option to boost your yield to that higher rate for the remaining term.  This innovative CD is sure to "peak" your interest, but this offer is limited.  So stop by either Impact Bank location and open yours today.


*Annual Percentage Yield is accurate as of of 2/1/2017.  Minimum CD amount $5,000 Maximum CD per customer $250,000.   Substantial penalty for early withdrawal.  Early withdrawal may reduce earnings.  Offer valid through 3/31/2017.  The CD will automatically renew at the then current rate.  Interest is compounded and paid monthly.  Offer available only for certificate accounts opened during the promotional period.  Rate and jump option will not be automatically applied to previously opened Certificate of Deposit accounts.  We will not notify you if or when rates increase.  We will not guarantee the rate will ever increase as we cannot predict future interest rate increase.  This offer applies to consumer accounts only. 

For other terms and conditions please refer to account disclosures available at account opening and upon request.  FDIC insured.


Certificate of Deposit

Impact Bank offers a wide variety of CD options for customers. The amount of interest paid on a certificate of deposit is dependent upon the time length of the CD. (Time length is also referred to as "term.") Impact Bank is very flexible in the terms offered to customers. A customer may choose a CD for a minimum time length of seven days up to a maximum time length of five years.

A Certificate of deposit is a "contract" between the customer and the bank, therefore the bank has the right to charge a penalty should the customer wish to withdraw the money before the term of the CD is up. Depending upon the term of the CD, the penalty is either 91 days' interest or 182 days' interest.

Certificates of Deposit account holders have a wide selection of interest payment options. The earned interest can be compounded (added to the balance of the CD), or the customer may choose to have the interest paid in the form of a check, or deposited to an account at Impact Bank or to another financial institution.