Business Banking
Certificates of Deposit
At Summit Bank, we understand that businesses also like to save money for a rainy day. Let us help you select the product that works best for your financial needs.
Certificates of Deposit
| Term | Minimum Balance |
|---|---|
| 3 months | $1,000.00 |
| 6 months | $1,000.00 |
| 12 months | $1,000.00 |
| 18 months | $1,000.00 |
| 24 months | $1,000.00 |
| 36 months | $1,000.00 |
| 48 months | $1,000.00 |
| 60 months | $1,000.00 |
- Interest earned at a fixed rate
- Guaranteed rate of return
- Multiple interest payment options
- Interest compounded daily, added back monthly
*Penalty for early withdrawal. Contact us or see a Summit Bank Customer Representative for details.
CDARS Investments (Certificate of Deposit Account Registry Service)
For individuals, businesses and non-profit organizations who have more than $250,000 to invest and want the security of FDIC insurance, CDARS® is the perfect solution. With CDARS, you sign one agreement, earn one interest rate, and receive one statement for all your investments. Your entire investment is FDIC insured up to $50 million. No more tracking multiple maturing CD’s, no more CD rate negotiations with various banks. Let us put your money to work for you from one convenient location. Go to cdars.com for more information.
*Penalty for early withdrawal. Contact us or see a Summit Bank Customer Representative for details.
Click here for a business application (must apply in person)