Share Certificates
Saving money for a rainy day has never been easier
A Share Certificate is a savings option that lets you earn dividends on your money over a fixed term, with flexible options ranging from 3 months to 5 years and a minimum deposit of $500.
- Share Certificate with an original maturity of less than 12 months earn Simple Dividends, posted to the account at the end of the term;
- Share Certificates that have a term of 12 months or longer earn Compounded Dividends, compounded daily and paid monthly to your account.
Check out our Jungle Road Grand Opening Share Certificate Specials!
Share Certificate FAQs
What should I know before putting money into a share certificate?
Before opening a share certificate, it’s important to understand your savings goal and the certificate’s terms. Share certificates typically offer higher rates than regular savings accounts, but they also come with early withdrawal penalties if you access the funds before the maturity date. To avoid having to break your certificate, it’s a good idea to keep some emergency savings readily available in another account.
What happens when a share certificate matures?
About a month before your share certificate matures, you’ll receive a Maturing Certificate Notice as a reminder. Once the certificate reaches its maturity date, you’ll have a 10-day grace period to decide what you’d like to do with the funds. During that time, you can transfer the money to another account, open a different certificate term, or have the funds automatically renew into the default certificate with no withdrawal penalty.
What happens if I need to take money out of a share certificate early?
If you withdraw money from a share certificate before it matures, you may be subject to an early withdrawal penalty. The amount of the penalty depends on the type and term of the certificate. Be sure to review the certificate’s terms before opening it and consider keeping emergency funds in a more accessible account to avoid needing an early withdrawal.
