Certificates of Deposit

What sets the Triple Option CD apart from others is the great features included. Like traditional CD products, the Triple Option CD is FDIC insured, is available at terms of 3 months up to 5 years and the minimum opening deposit required is just $1,000.

Triple Option CD Features

  • Anytime Unlimited Rate Bump Up: This allows you to reset the rate of your CD at anytime to Heritage Bank’s posted rate for any term equal to or greater than the original CD’s term. When the rate is reset, the term is also reset to the appropriate term. Plus, you can bump the rate as many times as you want.
  • Penalty-Free Withdrawals: You can withdraw part or all of your money without penalty at any time during your CD’s term for medical expenses. The minimum amount is $1,000 per withdrawal.
  • Anytime Additional Deposits: You may add money to your CD at any time, up to 100% of the CD’s original face amount. The minimum is $1,000 per deposit and the maximum amount allowed is the original deposit amount.

Certificate of Deposit Details

  • Interest can be paid monthly, quarterly, or annually and will be compounded or deposited electronically to an account of your choice.
  • Automatic renewal after maturity date.
  • Ten-day grace period after maturity to redeem.
  • Beneficiaries may be designated when opening account (distributed evenly to all beneficiaries upon death of account holder.)
  • Standard penalties for early withdrawal
     - Maturity of six months or less: Three months loss of interest
     - Maturity of greater than six months: Six months loss of interest
     - Minimum penalty: $25.00
     - May be waived for emergency medical expenses.
     - See a Customer Service Representative (CSR) for further details
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