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CD Comparison

 
3 month, 6 month, and 9 month CD
12 - 60 month CD
 Required Deposit to Open
$1,000
$500
 Minimum Daily Balance to Obtain APY*
$1,000
$500
 Additional Deposits Accepted?
No
No
 Withdrawals Permitted Without Penalty?
No
No
 Interest Paid or Credited 
At Maturity
Semi-Annually and At Maturity
 Automatically Renewed At Maturity? (you have 5 business days after maturity date to withdraw without penalty)
Yes
Yes

 

 
13 month special CD**
 
 
 Required Deposit to Open
$5,000
 
 
 Minimum Daily Balance to Obtain APY*
$5,000
 
 
 Additional Deposits Accepted?
No
 
 
 Withdrawals Permitted Without Penalty?
     Yes***
 
 
 Interest Paid or Credited 
Semi-Annually  and At Maturity
 
 
 Automatically Renewed At Maturity? (you have 5 business days after maturity date to withdraw without penalty)
Yes
 
 
 

   

    *Annual Percentage Yield.

  **To open this certificate of deposit, you must have a new or existing Somerset Trust checking account with external direct deposit. An additional CD relationship does not qualify a customer for the higher special CD rate.

***Early withdrawal of your full balance and interest earned, without penalty, is permitted any time on or after the seventh day following the date on which the account was opened or is permitted any time on or after the seventh day following the day the grace period expires listed in the last block of the chart above.

Note: Maximum deposit amount for 13 month special CD is $225,000

 Additional disclosures are necessary to complete the total information package for certificate of deposit accounts and special certificate of deposit accounts. Please request further information from  a New Accounts Representative.