Certificates of Deposit (CDs)
Earn a competitive interest rate on a short or long term investment.
CDs are a great way to save for a specific event, or to diversify the risk in your financial portfolio.
Fixed Rate CDs |
Fixed Rate CDs are designed to guarantee a competitive interst rate for a specified period of time.
- $500 minimum opening deposit
- No service charge
- Interest earned with a minimum balance of $500; tiered rates
- Variety of terms (3 months to 5 years)
- Rate guaranteed for term of account
Standard Features
- Pre-renewal notification sent to remind customer of pending maturity
- At maturity, 10-day grace period to renew to a different term, otherwise automatic renewal
- Interest may be transferred to a Horizon Bank checking or savings account
- Annual statements; combined at customer request
- Free Online Banking (inquiry only)
- Free Telephone Banking (inquiry only)
Variable Rate CDs |
Variable Rate CDs are designed to provide a competitive interest rate while allowing additional deposits during the term. The variable rate CD provides the flexibliity of paying the most current interest rates based on current market conditions.
- $500 minimum opening deposit
- No service charge
- Interest earned with a minimum balance of $500; tiered rates
- Variety of terms (1 to 5 years)
- Rates change with market conditions
- Deposits permitted at any time
Standard Features
- Pre-renewal notification sent to remind customer of pending maturity
- At maturity, 10-day grace period to renew to a different term, otherwise automatic renewal
- Interest may be transferred to a Horizon Bank checking or savings account
- Annual statements; combined at customer request
- Free Online Banking (inquiry only)
- Free Telephone Banking (inquiry only)
Bump Rate CDs
Bump Rate CDs are ideal if you're unsure about the current rate environment. You're allowed one "bump" in the interest rate during the initial term of the CD. Additional deposits can also be made to the CD at any time.
- $500 minimum opening deposit
- No service charge
- Interest earned with a minimum balance of $500; tiered rates
- One bump in the interest rate may be requested during the initial term; new rate applies only to the remaining term of the CD
- Deposits of at least $100 permitted at any time
- Bump rate and deposits do not change or extend the original maturity date
Standard Features
- Pre-renewal notification sent to remind customer of pending maturity
- At maturity, 10-day grace period to renew to a different term, otherwise automatic renewal
- Interest may be transferred to a Horizon Bank checking or savings account
- Annual statements; combined at customer request
- Free Online Banking (inquiry only)
- Free Telephone Banking (inquiry only)
