Bank of Utica was founded in 1927 and is based in Utica, New York and is a locally owned and operated commercial bank. Bank of Utica has been serving the Mohawk Valley for over 80 years with great New York CD rates, consumer products and personal service. The bank offers both personal and commercial banking services in the region.
Bank of Utica offers a variety of products and services designed to meet everyday personal banking needs. The bank has several deposit account, personal loan options, mortgages or home equity loans intended to meet a variety of needs. For consumers living in the region that are looking for an short term and long term investments, they can put their hard earned money to work with one of Bank of Utica’s deposit accounts with rates considerably higher than other banks in the area.
Bank of Utica offers a number high yielding New York CD rates for investors and savers residing in the bank’s market area. NY CD rates and products include the following:
1 month up to 3 month CD rate is 0.50% with a minimum $10,000.00 investment.
3 months up to 6 month CD rate is at 0.75% with a minimum $5,000.00 investment.
6 months up to 1 year CD rate is 1.00% with a minimum $2,500.00 investment.
With a low minimum investment of $500.00,the bank is offering the following NY CD rates:
1 year up to 2 year CD rate yields 1.50%.
2 years up to 3 year CD interest rate is 1.75%.
3 years up to 4 year CD has an interest rate of 2.00%.
4 years up to 5 year CD rate is 2.35%.
5 year CD rate is 2.75%.
The bank CD rates in New York are based on the certificates of deposit or CD contract that requires the investor keep a specified amount of money on deposit at the bank for a specified period of time. Bank of Utica usually offers top interest rates on its bank CD’s, but it is expected that the account holder keep the bank CD until its maturity. If there is an early withdrawal of principal, including partial withdrawals, made there are penalties based on the remaining term of the bank CD as follows:
One year bank CD term or less the early withdrawal penalty to be paid is three months interest. Over one year through two year bank CD term the penalty is six months interest. Over two years through three years bank CDs have a penalty of nine months interest. Over three years through four years bank CDs penalty is twelve months interest. Over four years through five years bank CDs have an early withdrawal penalty of fifteen months interest.
If there is not sufficient interest accrued on the bank CD out of which to pay the early withdrawal penalty, the difference would be taken out of the principal of the bank CD account.
Bank CD rates in New York are subject to change at anytime prior to opening the account. For current bank rates and NY CD rates or for more information about any of the products or services Bank of Utica offers contact a local Bank of Utica representative at 800-442-1028. CD rates in New York offered by the bank as well as other bank rates are also available at www.bankofutica.com.
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