Fixed Rate Term Deposit Certificate
A Certificate of Deposit pays a higher dividend rate for investing your money for a longer period of time. We have several terms you may choose from. Our CDs are a great way to earn high interest rates while you save for the future.
91 Day and 6 Month Certificates
Excellent short-term investments. A $1000. deposit opens your account. Interest is compounded continuously and posted monthly. Withdraw interest monthly without penalty.
Added Benefit: add funds to any certificate with a maturity of one year or less. The minimum deposit is $250 and the maturity date will not change.
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18 Month to 60 Month Certificates
These longer-term certificates generally pay higher interest than the shorter term CDs. Choose a maturity date that matches your long-term savings goals and objectives.Open with a deposit of only $1000. Withdraw interest monthly without penalty.
One-Year Certificate
This CD’s maturity date is convenient and easy to remember. The One-Year generally pays higher interest than the shorter-term CDs. A $1000. deposit opens your account. Interest is compounded continuously and posted monthly. Withdraw interest monthly without penalty.
Interest
Interest on all of our CDs can be mailed to you or transferred to another Pilgrim Co-operative Bank account. To earn the Annual Percentage Yield, interest must remain on deposit until maturity. Fully Insured All Pilgim CDs are insured in full by the FDIC and the Share Insurance Fund.
Maturity
- CDs are automatically renewable
- The original principal amount cannot be withdrawn until maturity without penalty
- Customers are notified by mail 30 days before the maturity date
- 8-day grace period begins after the maturity date
- During the grace period customers may add funds, withdraw funds, and renew their accounts
- Customers may renew a CD by phone or in person.
- Rates