Choice Bank offers certificates of deposit to institutional depositors at the following rates and terms:
No rates are available at this time.
Institutional deposits are only offered and available to a financial institution, such as a bank or credit union, and government entities. Institutional deposits are not available or offered to deposit brokers. Individuals and other business entities should contact Choice Bank for available rates.
The minimum balance to open an account is $50,000. The maximum balance for any one term is $99,000.
Institutional deposits are subject to acceptance by Choice Bank's Chief Financial Officer. There is no guarantee of acceptance.
Interest is credited and paid monthly by check. Interest cannot remain on deposit. The monthly payment of interest by check is mandatory.
There is a penalty for early withdrawal. The penalty for early withdrawal is calculated on the term of the certificate of deposit.