CDs (Certificates of Deposit)
Level One offers a variety of CDs to help maximize your earning potential and reach your financial goals. CDs are an excellent investment option if you are able to set aside funds for a specific period of time. With a CD from Level One, you can maximize your interest rate while enjoying the security of FDIC insurance*. Learn more below or click here for current CD promotions.
Benefits of CDs
- Earn higher interest rates than most savings accounts
- Receive a fixed rate of return
- Choose from a range of terms to best fit your short-term and long-term goals
- Choose from several options for distribution of your interest**
- CDs can be used as collateral for a Level One Bank loan
- Receive preferred rate with a Level One Bank Rewards Checking account
Minimum Deposit to Open
A penalty for early withdrawal may be imposed depending on the term of the CD. An early withdrawal penalty may reduce principal. See the withdrawal penalties below for more details:
- 1 Month CD: All simple interest*** earned with a minimum penalty of 7 days simple interest
- 3 Month CD: 30 days simple interest
- 6 – 9 Month CD: 90 days simple interest
- 12 – 18 Month CD: 180 days simple interest
- 24 months CD and more: 365 days simple interest
Certificate of Deposit accounts are set to automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without a penalty. The account will not renew if funds are withdrawn on the maturity date or if we receive written notice on or before the maturity date of the intention not to renew. If we are notified of your intent to not automatically renew, interest will not be paid after the maturity date.
For additional information or current CD rates, please contact your local banking center.
Level One Bank reserves the right to change these accounts at any time.
Fees may reduce earnings on the account.
*FDIC insured up to the maximum amount allowable by law.
**Chosen method of interest distribution may reduce APY. The posted APY assumes interest is credited to the account within the specified terms. Ask a personal banker for more information.
*** Simple interest is the interest paid with respect to each period of time and does not compound.