Flexible Certificate of Deposit
Our Flexible CD gives you the benefit of low-risk savings with higher returns. Plus, you can access your funds without penalties. †
Whether you are planning for a wedding, vacation, property tax payments or a wide range of business needs – our Flexible CD is a popular, easy way to save.
This CD is like no other; it provides you easy access to your funds.
Features include:
- Initial $500 deposit
- Higher rates of return than a Money Market Account
- Can be used to secure a Merchants Bank loan
- A maximum aggregate balance of $250,000 per customer
†Easy Access to your Funds
- Add or withdraw money – $250 minimum
- Avoid penalties by making withdrawals at least seven days from the most recent deposit, withdrawal or rate change
- Automatically deposit funds as low as $50 at a time from a Merchants Bank account
Need an easy way to invest over $250,000 and still have FDIC insurance? Learn about our CDARS CD
Connect With Us
Questions?
-
What is the term of the CD?
What is the term of the CD?
It has a term of 12 months.
-
If I withdraw money early, is there a penalty?
If I withdraw money early, is there a penalty?
Yes, you will have a penalty on the interest earned.
-
How do I withdraw money?
How do I withdraw money?
Please visit or call your local Merchants Bank branch.
-
Does the rate change during the year?
Does the rate change during the year?
No, the rate stays fixed for the 12 month term.
-
Do I need to live or work in Vermont to open an account or loan?
Do I need to live or work in Vermont to open an account or loan?
Merchants Bank opens accounts or loans for people living or working in Vermont or communities adjacent to our offices.
Rewards Checking for Business
Earn cash back, enjoy FREE processing of your first 999 items, FREE access to FinanceWorks and more. Click here.
52 Reasons
Businesses across Vermont choose to work with us for many reasons. We’re sharing 52 of those reasons throughout the year. Click here and see how many we have so far.
Mobile Banking
Make payments, check balances and more from your smartphone. Download our free Mobile Banking App here. ($3 monthly fee applies to Free Checking for Life account holders.)