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CDs

Not much in life is guaranteed, so when an opportunity comes along to add guaranteed returns on your portfolio you should act. Pioneer Bank offers CDs with fixed rates for easy financial planning. Lock in your term and then wait for your cash to grow. Once the life of the CD is fulfilled you can cash out or roll your CD over to another term.

  • Minimum deposit to open varies
  • Terms range from three months to five years
  • Specialty certificates are available
  • Penalty for early withdrawal
  • Free Telephone Banking
  • FDIC Insured up to $250.000.00

Penalties are calculated on the principal basis of the CD that is withdrawn. Interest may be withdrawn from the CD penalty-free at any time after it is credited to you.

Term Minimum Balance To Obtain APY Minimum Opening Deposit Interest Rate APY
91 Days $500.00 $500.00 0.10% 0.10%
182 Days $500.00 $500.00 0.25% 0.25%
9 Months $500.00 $500.00 0.25% 0.25%
12 Months $500.00 $500.00 0.50% 0.50%
18 Months $500.00 $500.00 0.50% 0.50%
21 Months $500.00 $500.00 0.50% 0.50%
24 Months $500.00 $500.00 0.75% 0.75%
30 Months $500.00 $500.00 0.75% 0.75%
36 Months $500.00 $500.00 0.75% 0.75%
48 Months $500.00 $500.00 1.00% 1.00%
60 Months $500.00 $500.00 1.00% 1.00%
Bump Up 22 Month $10,000.00 $10,000.00 3.21% 3.25%
Bump Up 33 Month $10,000.00 $10,000.00 3.455% 3.50%

Penalty for early withdrawal. Penalties are calculated on the principal basis of the CD that is withdrawn. Interest may be withdrawn from the CD penalty-free at any time after it is credited to you.

Certificate of Deposit Features

  • Certificates of Deposits are subject to a penalty for early withdrawal equal to 30 days of interest on maturities of less than one year, 90 days of interest on maturities of one year to 35 months, 12 months of interest on maturities 36 months and greater, unless otherwise noted.
  • Early withdrawal penalties are not assessed on Required Minimum Distribution (RMD) amounts mandated by the federal government.
  • Early withdrawal penalty calculated at the current interest rate at the time of the withdrawal.
  • Some certificates are automatically renewable and will begin to earn the renewal rate on the day of maturity. Non-renewable certificates will not earn interest after maturity.
  • No penalty is assessed for a withdrawal from an automatically renewable certificate within 10 days after maturity.
  • Interest begins to accrue on the business day you deposit non cash items (for example, checks).
  • After the account is opened, you may not make deposits into this account until maturity.***
  • After the account is opened, you may not withdraw principal until maturity, without a penalty.
  • We use the daily balance method to calculate the interest on your account. This method applies a daily periodical rate to the principal in the account daily.
  • Interest on consumer owned certificates is credited and compounded quarterly, unless otherwise noted. Refer to  original certificate.
  • The Annual Percentage Yield assumes the interest remains on deposit until maturity. Early withdrawal of principal or interest will reduce earnings.
  • Fees, penalties, service charges and withdrawal of earned interest may reduce earnings.

22 Month Bump Up

  • At maturity, 22 Month Bump up automatically renews into our standard 24 month CD.
  • Opportunity to "bump up" the rate to our 24 month CD once during the term by contacting us.

33 Month Bump Up

  • At maturity, 36 Month Bump up automatically renews into our standard 36 month CD.
  • Opportunity to "bump up" the rate to our 36 month CD twice during the term by contacting us. 

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