Invest on your terms
Certificates of Deposit (CDs) are a safe way to save money while earning a high rate of return on your investment. Unlike savings accounts, CDs have a specific, fixed term (from six months up to five years). They benefit from fixed interest rates, which vary depending upon the term.*
In order to avoid an early withdrawal penalty and to receive full interest, a CD must be held until maturity.** The Blue Grass Valley Bank uses the daily balance method to calculate the interest on our CD accounts, applying a daily periodic rate to the principal in the account each day.
* All CDs automatically renew; you will have ten (10) calendar days after the maturity date to withdraw funds without a penalty.
** The annual percentage yield assumes interest will remain on deposit until maturity; any withdrawal will reduce earnings.
182-day CD
- Term: 6 months
- Required deposit: $2,500.00 (no additional deposits or early withdrawals allowed)
- The interest rate and annual percentage yield will not change for the term of this account
- Interest will not be compounded on the account.
- Interest will be credited at maturity, mailed as a check or deposited in an account of your choosing.
- If you withdraw any of the principal before the maturity date, we may impose a penalty of at least equal to one month’s interest earned, or that could have been earned, on the amount withdrawn at the nominal (simple) interest rate being paid on the deposit, regardless of the length of time the funds withdrawn have remained on deposit.
12-month CD
- Term: 1 year
- Required deposit: $1,000.00 (no additional deposits or early withdrawals allowed)
- The interest rate and annual percentage yield will not change for the term of this account.
- Interest will be compounded semi-annually and will be credited semi-annually.
- Interest will be mailed as a check or deposited in an account of your choosing.
- If you withdraw any of the principal before the maturity date, we will impose a penalty of at least equal to one month’s interest earned, or that could have been earned, on the amount withdrawn at the nominal (simple) interest rate being paid on the deposit, regardless of the length of time the funds withdrawn have remained on deposit.
18- , 24- and 30-month CDs
- Term: 18 months, 24 months or 30 months
- Required deposit: $1,000.00 (no additional deposits or early withdrawals allowed)
- The interest rate and annual percentage yield will not change for the term of this account.
- Interest will be compounded semi-annually and will be credited semi-annually.
- Interest will be mailed as a check or deposited in an account of your choosing.
- If you withdraw any of the principal before the maturity date, we will impose a penalty of at least equal to three months’ interest earned, or that could have been earned, on the amount withdrawn at the nominal (simple) interest rate being paid on the deposit, regardless of the length of time the funds withdrawn have remained on deposit.
36-month CD
- Term: 3 years
- Required deposit: $500.00 (no additional deposits or early withdrawals allowed)
- The interest rate and annual percentage yield will not change for the term of this account.
- Interest will be compounded semi-annually and will be credited semi-annually.
- Interest will be mailed as a check or deposited in an account of your choosing.
- If you withdraw any of the principal before the maturity date, we will impose a penalty of at least equal to three months’ interest earned, or that could have been earned, on the amount withdrawn at the nominal (simple) interest rate being paid on the deposit, regardless of the length of time the funds withdrawn have remained on deposit.
60-month CD
- Term: 5 years
- Required deposit: $500.00 (no additional deposits or early withdrawals allowed)
- The interest rate and annual percentage yield will not change for the term of this account.
- Interest will be compounded semi-annually and will be credited semi-annually.
- Interest will be mailed as a check or deposited in an account of your choosing.
- If you withdraw any of the principal before the maturity date, we will impose a penalty of at least equal to three months’ interest earned, or that could have been earned, on the amount withdrawn at the nominal (simple) interest rate being paid on the deposit, regardless of the length of time the funds withdrawn have remained on deposit.
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FAQ
How do I open an account?
Please visit one of our offices, and a customer service representative will be happy to assist you!
What do I need to open an account?
To open an account at The Blue Grass Valley Bank, we require at least one form of valid identification (for example, state- or government-issued identification card or Social Security card) and the required minimum deposit for the account you are opening.
Are my deposits FDIC insured? If so, by how much are they insured?
Yes! All deposits are FDIC insured up to the maximum amount allowed by law, which is currently $250,000.00 USD per depositor, subject to aggregation rules.