A 12 Month Rate Riser CD allows you to increase the interest rate on the CD to the current 12-month rate once during the term. This CD is only available for a 12-month term and has a minimum balance requirement of $500.
- Allows customer to increase to the current 12-month rate once during the term
- Protects customers from interest rate risk
- Auto-renews to 12-month term
- Customer receives notice before renewal and has a 10-day grace period to make changes
- Certificates of Deposit subject to penalty for early withdrawal