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Certificate of Deposits
Summit Business Certificate of Deposit
- $500 minimum opening deposit
- Various terms and interest payment options
- Various interest rates determined by term selected
Summit Personal Certificate of Deposit
- $500 minimum opening deposit
- Various terms and interest payment options
- Various interest rates determined by term selected
Summit Business Cash Advance Deposit
- $5000 minimum monthly sales revenue
- Various terms and interest payment options daily/weekly ach
- Various interest rates determined by term selected
- Low paperwork requirements, see the business funding online application.
Individual Retirement Account Certificate of Deposit
- $500 minimum opening deposit
- No annual fee
- Various terms
- Various interest rates determined by term selected
We know the security of FDIC insurance is important to you, that’s why Summit Bank now offers CDARS®, the most convenient way to enjoy full FDIC insurance on deposits of up to $50 million. Click here for details
Certificate of Deposit Rates
| CD TERM |
$500 MINIMUM |
IRA CD $500 MINIMUM |
3 MONTH |
1.75% APY*
1.74% Interest Rate |
1.75% APY*
1.74% Interest Rate |
6 MONTH |
2.00% APY*
1.98% Interest Rate |
2.00% APY*
1.98% Interest Rate |
7 MONTH |
2.15% APY*
2.13% Interest Rate |
2.15% APY*
2.13% Interest Rate |
9 MONTH |
2.00% APY*
1.98% Interest Rate |
2.00% APY*
1.98% Interest Rate |
12 MONTH |
2.25% APY*
2.23% Interest Rate |
2.25% APY*
2.23% Interest Rate |
18 MONTH |
2.25% APY*
2.23% Interest Rate |
2.25% APY*
2.23% Interest Rate |
24 MONTH
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2.25% APY*
2.23% Interest Rate |
2.25% APY*
2.23% Interest Rate |
30 MONTH |
2.25% APY*
2.23% Interest Rate |
2.25% APY*
2.23% Interest Rate |
36 MONTH |
2.25% APY*
2.23% Interest Rate |
2.25% APY*
2.23% Interest Rate |
48 MONTH |
2.25% APY*
2.23% Interest Rate |
2.25% APY*
2.23% Interest Rate |
60 MONTH |
2.25% APY*
2.23% Interest Rate |
2.25% APY*
2.23% Interest Rate |
*Annual Percentage Yields quoted effective 01-06-2009 and are subject to change without notice.
Penalties for early withdrawals on certificates:
Forfeiture of accrued interest if term of account is less than 3 months.
Forfeiture of 3 months of interest if term of account is more than 3 months but less than 1 year.
Forfeiture of 6 months of interest if term of account is 1 year or longer.
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