Certificates of Deposit & IRA’s
Certificates of Deposit
A Certificate of Deposit or CD, is a time deposit offered to consumers to gain competitive returns on FDIC insured savings.
CDs are a great choice if you have a time specific savings need or if you just want to diversify overall portfolio risk. The consumer has the decision of how much to invest in the CD as well as the term length.
So whether, you are building assets for retirement or looking for a low risk way to diversify your investment portfolio, find the right savings solution at Sullivan Bank.
Term
Minimum Opening Deposit
APY (Annual Percentage Yield)
3 Months
$1,000
0.25%
6 Months
$1,000
0.25%
7 Months SPECIAL
$1,000
5.51%
1 Year
$1,000
0.50%
18 Months
$1,000
0.50%
2 Years
$1,000
0.50%
3 Years
$1,000
0.50%
4 Years
$1,000
0.50%
5 Years
$1,000
3.55%
13 Months SPECIAL
$1,000
5.30%
*Annual Percentage Yields, APY’s are accurate as of date stated above. $1,000 minimum balance required to earn stated APY. Penalty may be imposed for early withdrawal, which will reduce earnings on the account. Interest compounded and credited quarterly. Rates are subject to change at any time.
Interest Bearing Accounts
Account Name
Minimum Opening Deposit
APY (Annual Percentage Yield)
Minimum Balance to Earn APY
$100
3.00% Qualified
.30% Qualified
0.05% Non-Qualified
Balances up to $10,000
Balances over $10,000
No minimum balance
$100
0.05% Qualified
Cash Back Rewards Spend
- Spend $0.00-$29.99;
Receive $1 back - Spend $30.00-$49.99;
Receive $2 back - Spend $50.00-$99.99;
Receive $4 back - Spend $100.00-$149.99;
Receive $6 back - Spend $150.00 or more;
Receive $8 back
$75,000
Balances under $75,000 do not receive interest but do receive Cash Back.
$100
6.00% Qualified
0.05% Qualified
0.05% Non-Qualified
Balances under $25,000
Balances over $25,000
No minimum balance
$10
1.00% Qualified
.30% Qualified
.30% Non-Qualified
Balances up to $25,000
Balances above $25,000
No minimum balance is required to earn .30%
$10
1.00% Qualified
.30% Qualified
.30% Non-Qualified
Balances up to $25,000
Balances above $25,000
No minimum balance is required to earn .30%
$2,500
0.05%
0.10%
0.10%
0.15%
0.35%
0.40%
Under $2,500
$2,500-$9,999
$10,000-$24,999
$25,000-$49,999
$50,000-$99,999
$100,000 & over
APY is effective as of the date stated above, and assumes monthly compounding. APY is calculated using the daily balance method, based on minimum balance requirements. On checking and savings accounts, rates are subject to change without notice after account opening, and certain fees may reduce account earnings. Accounts are FDIC insured.
*Annual Percentage Yield. APY calculations are based on an assumed total account balance of $10,000 for Cash Rewards and $25,000 for Saver Rewards plus $100,000 to be shown as single figure. Cash Rewards 0.55%-3.00% APY depending on account balance. Saver Rewards 0.44%-1.00% depending on the account balance.
* *Annual Percentage Yield of 6.00% is accurate as of September 6, 2023. $100.00 Minimum Opening Deposit. No Minimum Balance required to maintain the account. To qualify for the higher rate of interest and a maximum of $10.00 in ATM fees refunded per statement cycle, you must have: 12 or more Debit Card POS (Point of Sale) transactions clear the account totaling a minimum dollar amount of $300 during the statement cycle, accept electronic delivery of monthly eStatements (requires a valid e-mail address), at least one direct deposit or direct debit clear the account during the statement cycle, log into Online Banking at least once during the statement cycle and complete, post and settle at least one bill payment during the statement cycle. Non-Qualified or Balances over $25,000 will earn 0.05% APY. Rates may change after account opening. Limited to 2 accounts per individual listed as primary account owner. Additional terms and conditions may apply. Message and data rates may apply.
***Interest earned on all balances –
