First Green Bank in Florida is the first bank of its kind to promote positive environmental and social responsibility while operating as a traditional bank. The bank started operations in 2009 and plans to specialize in services for environmentally friendly businesses and building projects. The bank does accommodate both green and non-green businesses alike. First Green Bank has two locations, one in Eustis and another in Clermont Florida.
The First Green Bank HYBRID CD provides extended flexibility while maximizing the return on your investment. With a low opening deposit amount, a rate bump, and a withdrawal allowed during the original term, the HYBRID CD is designed to lock in your green for the term chosen.
The HYBRID CD has a minimum opening deposit of $1000. Additional deposits can be made in increments of $100 up to one-half the principal balance. One withdrawal is allowed of up to one-half the initial principal balance without penalty during the original term. This CD has a rate bump provision that allows the account holder to raise the CD interest rate one time during the term if the bank’s rate increases, without extending the original CD term. Interest is compounded daily and credited monthly.
Current CD rates and terms:
3 month CD rate is 1.00% APY
6 month CD earns a rate of 1.51% APY
One year CD rate is 2.02% APY
Two year CD has an interest rate of 2.27% APY
Three year CD yields a rate of 2.53% APY
Four year CD earns a rate of 2.79% APY
Five year CD rate is 3.04% APY
For savings options with more flexible withdrawals, First Green Bank offers the BE GREEN money market account. This money market account has a minimum daily balance of $2500 is required to avoid a $15 monthly service charge. The money market account allows up to 6 transfers to your accounts or third-parties and up to 3 transfers by check or draft per month. The account allows unlimited in-person withdrawals, has a tiered interest rates, interest paid monthly, free first order of recycled checks, free MasterCard debit card, free online banking with bill payment and free E-statements.
Money market rates:
Balances up to $9,999.99 has a rate of 0.50% APY
Money market account balances of $10,000 to $24,999.99 earns a rate of 1.51% APY
Balances between $25,000 to $49,999.99 rate is 2.53% APY
Account balances that reach $50,000 to $99,999.99 have an interest rate of 3.14%
And money market account balances that are $100,000 or greater has an interest rate of 3.14% APY
Rates subject to change at bank’s discretion prior to opening the CD account. Money market rates are variable rate accounts. Fees may reduce earnings on accounts. For more information on bank products and bank rates, a bank representative can be reached at 352.483.9100. Additional CD rates and account information can be found on the First Green Bank website which is located at www.firstgreenbank.com.
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