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Open a Certificate of Deposit (CD) with Prominence Bank

Choosing to open a Certificate of Deposit (CD) with Prominence Bank provides a safe and secure way to grow your savings over time. With our flexible options and competitive interest rates, you can lock in guaranteed returns without worrying about market fluctuations. Whether you’re saving for a specific goal or simply looking to diversify your investment portfolio, our CDs offer an effective and reliable solution.

Why Open a Certificate of Deposit (CD) with Prominence Bank?

When you open a Certificate of Deposit (CD) with Prominence Bank, you’re selecting a secure investment option with numerous benefits. Here’s why our CD products are a top choice:

Guaranteed Fixed Interest Rates: With Prominence Bank, you’ll benefit from a fixed interest rate on your deposit, ensuring stable returns over the term of your CD.
Flexible Terms: Choose from a variety of CD terms to match your financial goals, whether you prefer a short-term investment or a longer commitment for higher yields.
Low Minimum Deposit Requirement: You can start with a minimum deposit of EUR €500,00, making it easy to begin your CD investment journey with Prominence Bank.
Compounded Daily Interest: Interest on your CD is compounded daily, which allows your savings to grow faster than with other traditional savings options.

Prominence Bank Certificate of Deposit Interest Rates

Our Certificate of Deposit (CD) accounts offer competitive interest rates designed to provide a high yield on your savings. The Annual Percentage Yield (APY) for our CDs is updated regularly to reflect current market conditions. Rates are subject to change daily and are effective as of the current business day.

Prominence Bank offers CD accounts with different terms, allowing you to select the APY that best meets your needs. For clients with a linked Personal Savings Account, we offer a special APY to maximize your returns. Please note that early withdrawal penalties may apply depending on the CD term you choose.

CD Interest Payment Flexibility

At Prominence Bank, we understand that every investor has unique needs. When you open a Certificate of Deposit (CD) with us, you have the option to customize your interest payout schedule. You can choose to receive interest payments:

Monthly
Quarterly
Semi-Annually
Annually
At Maturity

This flexibility allows you to plan your finances more effectively, helping you meet your financial goals with confidence.

CD Laddering Strategy: Optimize Your Investment

One strategy our clients find particularly beneficial is CD laddering. By dividing your deposit across multiple CDs with varying maturity dates, you can enjoy more frequent access to your funds while taking advantage of different interest rates. Speak to a Private Client Banker at Prominence Bank to see how the CD laddering strategy can help optimize your returns while keeping your money accessible.

Who Can Benefit from a Prominence Bank CD?

Our Certificate of Deposit (CD) accounts are designed for individuals seeking a safe, stable investment with predictable returns. Ideal for both short-term and long-term savings goals, Prominence Bank CDs offer the following benefits:

Private Clients: Access to premium interest rates and personalized banking support.
Savvy Savers: A guaranteed rate of return without market-related risks.
Conservative Investors: A secure alternative to volatile investments, with a guaranteed interest rate.

Calculating Your CD Returns

Use our easy-to-navigate CD calculator to estimate the potential earnings from your Certificate of Deposit. By entering the deposit amount, interest rate, and term length, you can quickly see the expected annual percentage yield (APY) and final balance at the end of your term. This tool makes it easy to plan your savings strategy and understand how your CD will perform over time.

Steps to Open a Certificate of Deposit (CD) at Prominence Bank

Select Your CD Term: Choose from our range of terms to find the option that best aligns with your savings goals.
Fund Your Account: Start with a minimum deposit of EUR €500,00 to open your CD.
Enjoy Your Guaranteed Returns: Sit back and watch your savings grow with a fixed interest rate and compounded daily earnings.

Our dedicated team of financial professionals is available to answer your questions and help you make the most of your CD investment.

Contact Prominence Bank Today to Open a Certificate of Deposit (CD)

Investing in a Certificate of Deposit (CD) with Prominence Bank is a smart choice for anyone seeking a secure, predictable way to grow their savings. Our CDs offer competitive rates, flexible terms, and the peace of mind that comes with guaranteed returns. Whether you’re a private client or a new saver, Prominence Bank has a CD solution to meet your needs.

Reach out to a Prominence Bank representative today to discuss your options and learn more about the benefits of opening a Certificate of Deposit (CD) with us. Let Prominence Bank be your trusted partner in financial growth and stability.

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Lock in the CD relationship rate

Getting a Certificate of Deposit (CD) from Prominence Bank means a guarantee on rates whether the investment is for short or long term to better facilitate your requirements.

The benefits of a Prominence CD

Convenient

With Multiple Term Options
Deposit for as little as 1 year or for as much as 10 years as per your requirement.

All in one place
You can see your CD results and other information about your account on www.prominencebank.com.

Little to No Risk

With a Fixed Interest Rate
Greater the deposit, greater the return, At any amount, you are bound to earn a fixed rate for a defined period of time.

Predictable growth

Assured Safety from Market Fluctuation
Even if the market goes down, your initial deposit and earnings aren’t effected due to any fluctuation.

How to get started

You need to have a Prominence Savings Account to get your CD relationship rate and apply for the certificate online.

Make sure you have relevant funds available in your Prominence Savings Account. The amount must be available in the account at the time of application for a CD certificate online.

Prominence Certificates of Deposit Interest Rates

With a Certificate of Deposit (CDs) you can earn a guaranteed high yield interest rate on the deposited amount. The minimum amount needed to open a CDs is EUR €500,00. Listed below are the Annual Percentage Yields (APYs) CD relationship rates available for our customers who have a linked Personal Savings Account in Prominence Bank.

To inform our valued clients, APYs are subjected to change without prior notice hence, they are effective for the current date only. We update the rates on the website on each business day in the morning which can vary as per the market trends. The interest in CDs is compounded on a daily basis. The clients have the freedom of choice (subjected to terms) to have their CD interest paid at their desired interval which can be monthly, quarterly, semi-annually, annually or at the time of maturity.

CD TERM	€500 - €499,999	€500,000 - €999,999	€1,000,000 - €19,999,999	€20,000,000 - €39,999,999	€40,000,000 - €100,000,000+
1 Year	3,0% APY	3,5% APY	4,0% APY	4,5% APY	5,0% APY
18 Months	3,2% APY	3,7% APY	4,2% APY	4,7% APY	5,2% APY
2 Years	3,5% APY	4,0% APY	4,5% APY	5,0% APY	5,5% APY
3 Years	4,0% APY	4,5% APY	5,0% APY	5,5% APY	6,0% APY
4 Years	4,5% APY	5,0% APY	5,5% APY	6,0% APY	6,5% APY
5 Years	5,0% APY	5,5% APY	6,0% APY	6,5% APY	7,0% APY
10 Years	7,0% APY	7,5% APY	8,0% APY	9,0% APY	10,0% APY

Now available for Private Clients

Earn a stable yet a high yield interest on your deposit over time while having a flexible access to your money. Take advantage of the CD ladder strategy and talk to a Private Client Banker Today

CD Calculator

Calculate your earnings and more

Use this CD calculator to find out how much interest is earned on a certificate of deposit (CD). Just enter a few pieces of information and this CD calculator will calculate the annual percentage yield (APY) and ending balance.

Initial Deposit

Over a period of:

Months

Years

APY

Your total balance

Interest earned by month :
Your earnings	$
National Average	$
Total interest earned = $

Prominence Bank regularly offer APYs that are 2-4x higher than the national average - so you can grow your savings faster.

Answers to the most common questions

What is a Prominence CD?

A certificate of deposit is a form of time deposit, a secure form to be exact. It implies that a specific (pre-defined minimum limit) amount of cash is deposited in the bank for an agreed-upon period of time

What is the minimum deposit amount to open a Prominence CD?

EUR €500,00

How is the Prominence CD interest calculated?

For calculating interest rates on the CDs we use the ‘Daily Balance Method’. With this method, we apply a periodic rate daily to the balance in the account. On the business day of the deposit, the interest on your deposit begins to accumulate and is calculated on a 365-days basis (some business CDs may be calculated on a 360-day basis).

The APY (Annual Percentage Yield) disclosed on the maturity notice or deposit receipt assumes that the interest will remain on deposit until maturity. In case of maturity exceeding a 1-year period, interest will be paid on an annual basis (at least). We advise viewing the Deposit Account Agreement and Rate Sheet for any further inquiry.

Are there early withdrawal fees or penalties associated with a Prominence CD?

Yes, there are in fact penalties for withdrawal of principal preceding to the maturity date. In the case of Personal CD’s:

• Unless specified on the agreement, an early withdrawal on CDs is forbidden by Prominence Bank.
• A penalty of 180 days’ worth of interest is applicable on the amount withdrawn for CDs with a term of 1 year. However, the penalty can’t exceed the total amount of interest earned during the current term of the CD.
• In case the term of a CD is less than 18 months, it will be penalized with 365 days’ worth of interest on the amount withdrawn. However, the penalty can’t exceed the total amount of interest earned during the current term of the CD.
• In case the term for the CD is equal to or more than 24 months, the penalty is 50% of the days of interest on the withdrawn amount. However, the penalty can’t exceed the total amount of interest earned during the current term of the CD.
• In case a withdrawal is made just one week (or less) after the opening of the CD or another withdrawal of principal is made, the penalty for early withdrawal will be made in accordance with criteria described and calculated as such. In any case, it can’t be less than 180 days’ worth of interest.
• The amount of penalty applicable will be deducted from the earned interest/principal.

What does it mean when my Prominence CD matures?

The last day for the term of your CD is the maturity date of your CD. The next 10 days are referred to as the grace period where the holder of CD can make changes to their CD.

Open a CD account

Open a Certificate of Deposit (CD) with Prominence Bank