Certificates of Deposit
Certificates of Deposit provide you with a sound investment while helping you earn high interest on your money. As opposed to a traditional savings account, CDs grow from a fixed sum of money for a fixed period. This account offers a variety of maturities that fit your investment needs. You have the freedom to choose whether to have interest paid to you by check, quarterly credit to balance or credited to another Bank of Virginia account.
CDs require a $500 minimum opening deposit. The terms for CDs range from 1-60 months with an automatic renewal containing a 10 day grace period after maturity date. Interest is compounded daily and credited quarterly. There are varied early withdrawal penalties, which may reduce principal. Please contact the branch nearest you for more information on current rates and other fees.