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CD Frequently Asked Questions (FAQs)
What is a CD?
Also known as a Certificate of Deposit, the deposit instrument earns interest on the amount for a fixed period of time.
How does a CD work?
The amount of your high-yield Certificate of Deposit must stay untouched for the term period agreed to so that you can ensure that the full interest can accrue and there are no early withdrawal fees.
What does a deposit minimum mean?
A deposit minimum is the amount of your initial deposit that you must put into your account for the CD rate to apply to your funds.
What is APY?
APY stands for Annual Percentage Yield and is the actual amount of return you will achieve according to compounding interest on your financial instrument.
Where can I find more details about an account being FDIC insured?
More complete information can be found on the FDIC website, including FDIC’s Electronic Deposit Insurance Estimator (EDIE).
What if I want to withdraw my funds early?
An early withdrawal penalty will be assessed. Visit our CD disclosure in the Agreement Center for details.
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Get To Know Vectra Bank
Vectra Bank Colorado
Big Enough to Count / Small Enough to Care™
The Rocky Mountain region is a part of who we are, and we understand why families and businesses choose to grow, play and work here. From day one, our mission has been to provide products and services designed to cultivate healthy, thriving communities throughout Colorado and New Mexico. Our bankers think creatively to shape custom financial solutions for those raising a family or creating the next great local business.