CDs & CDARS
Certificates of Deposit (CDs)
CDs are available in amounts of $1000 or more. Ask any Resource Bank employee for our current rates.
|1 week||early withdrawal penalty of 7 days interest|
|3 month||early withdrawal penalty of 30 days interest|
|6 month||early withdrawal penalty of 30 days interest|
|1 year*||early withdrawal penalty of 90 days interest|
|18 month*||early withdrawal penalty of 90 days interest|
|24 month step-up*||early withdrawal penalty of 90 days interest|
|3 year*||early withdrawal penalty of 180 days interest|
|1 year IRA step-up*||early withdrawal penalty of 90 days interest|
|2 year IRA step-up*||early withdrawal penalty of 90 days interest|
|4 year (2 step-ups)*||early withdrawal penalty of 180 days interest|
All CD's of 1 year to 3 year maturities are allowed one step-up. *Interest rate and yield may change after account opening. Penalty for early withdrawal.
CDARS - Certificate of Deposit Account Registry Service®
With CDARS, you can invest up to $50 million and still be eligible for FDIC insurance on every dollar. Using CDARS, we will place your funds with multiple FDIC-insured institutions. You can enjoy the simplicity of working with just one bank and still have the benefits of full coverage. Visit CDARS FAQ for detailed info.
Terms for CDARS:
|13 weeks||early withdrawal penalty of 90 days simple interest|
|26 weeks||early withdrawal penalty of 90 days simple interest|
|52 weeks||early withdrawal penalty of 180 days simple interest|
|2 year||early withdrawal penalty of 360 days simple interest|
How does CDARS work? Through a sophisticated computer network, Resource Bank places customer deposits with other FDIC-insured banks, allowing customers to manage all their funds through one portfolio at Resource.
We are 1 of 2,150 banks offering this unique product. CDARS allows us to satisfy customer demand for safety and convenience. In effect, a risk free investment, it is a new, smart option to help customers manage their money. Contact your Resource relationship banker or your local branch to learn more.
Celebrate your right to "bank on" – As a result of recent media coverage, there has been a growing concern among consumers about the safety of their money. We are here to assure you that the banking industry, as a whole, remains strong.Banks like ours are required to have significant capital and reserves – that is, rainy-day funds for tough economic times.Resource Bank remains strong, ready, willing and able to meet the needs of our community and serve our customers. We are confident that with Resource, you can celebrate your right to bank on. See the proof by viewing our financial stability.