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At City National Bank & Trust we offer Certificates of Deposit with terms from 90 days to 5 years, so you can pick the account with the term that best suits your financial situation.


Your deposit will earn interest at the fixed annual percentage rate and yield as stated on your certificate throughout the original maturity period. We use the daily balance method to calculate the interest on your certificate. This method applies a daily periodic rate to the principal of the certificate each day. Interest begins to accrue the next business day after the deposit. Interest will not be compounded unless the certificate is designated as stated on the certificate as a compounding certificate. You may withdraw accrued interest before maturity by indicating the manner of payment you desire in a written notification delivered to the Bank. If you choose to change the timing or manner in which your interest is paid during the term of the certificate you may be charged a $15 administrative penalty. If the COMPOUNDING MONTHLY option is selected on the certificate, the certificate must have a minimum term of 18 months, and the interest will be added back to the Certificate monthly. The annual percentage yield assumes that interest will remain on deposit until maturity. A withdrawal of the interest before maturity will reduce the yield and may result in a $15 administrative penalty.

CERTIFICATES OF DEPOSIT
A minimum deposit is required to establish a Certificate of Deposit. Please see the Bank’s current rate sheet for current interest rates, minimum deposit and minimum balance information, and additional information on the general rules for interest bearing accounts. The rate sheet is available on the Bank’s website (https://www.cnb1901. com), or through the Bank’s Telephone Banking service, or in person at any CNB branch.

WITHDRAWALS AND TRANSFERS
Those of you named as owners on the face of your certificate are entitled, with proper identification, to withdraw from or cash the certificate. We will only require one endorsement for withdrawal. This means that any one of the account owners acting alone may withdraw the entire account balance and we have no duty to obtain the consent of any other person to the account. Those individuals who have the right to withdraw funds also have the right to request other changes to the account.

TYPES OF CD ACCOUNTS
See the Ownership of Accounts section for information on the various types of CD accounts that may be available to you. For court approved CD accounts, the Bank may require that a current court approved withdrawal agreement be on file with the Bank.

PLEDGES
Your certificate may not be pledged or used as security for a loan or debt without our consent, which we will not unreasonably withhold. If we consent to a pledge, no one may cash, redeem or withdraw from your certificate (including any beneficiary or survivor) until the pledge is removed.

AUTOMATIC RENEWALS
We will automatically renew your certificate on each succeeding maturity date. Each renewal term will be the same as the original term, beginning on the maturity date and will earn interest at the rate offered for new certificates with the same term on that date. Interest on all future renewals will be paid in the same manner as designated on your certificate. If you do not wish to renew the certificate you must either inform us in writing on or before the next maturity date or visit any CNB location to request payment within the applicable grace period. The grace period for stopping a renewal or cashing the certificate is 10 calendar days after the maturity date for certificates with terms of 31 days or longer and within one calendar day for certificates with terms less than 31 days. Any transactions conducted outside of this grace period will be subject to early cashing penalties. Any interest accrued within the ten day grace period will be forfeited if the certificate is cashed.

SINGLE MATURITY
You may request that we not automatically renew this certificate. Interest will not accrue after the maturity date.

EARLY WITHDRAWAL PENALTY
By purchasing a certificate you have contracted to leave your funds on deposit until the stated maturity date. If we consent to a request for a withdrawal, which is not permitted by the terms of the certificate, you may have to pay a penalty. The penalty will be computed as follows. Any certificate with a term of 12 months or greater will forfeit the equivalent of six months interest. Any certificate with a term of less than 12 months will forfeit the equivalent of three months interest. We will charge the penalty first against accrued interest and any excess will be deducted from the principal of the certificate at the time of the withdrawal. We are permitted to waive the above penalties if any account owner dies or is declared incompetent. In the event you decide to redeem a Certificate of Deposit prior to the maturity date and interest has been paid out twice we reserve the right to reverse the ACH Direct Deposit. This only applies to a Certificate of Deposit that was set to pay interest by direct deposit to another financial institution. If this certificate is part of an Individual Retirement Account (“IRA”), please read the IRA section below and the applicable IRA custodial agreement provided to you when you opened the account for any additional penalties that may be imposed in the event of a withdrawal.

*Limited-Time – The 25-month and the 14-month certificate of deposit is available beginning July 22, 2022. A minimum deposit of $10,000 is required to establish and obtain APY, not to exceed $1,000,000 for a 2.50% interest rate and 2.50% APY non-compounding 25-month certificate or for a 2.00% interest rate and 2.00% APY non-compounding 14-month certificate. Rate and APY eligible for at least 50% of New Money, 50% of the funds must originate from a financial institution other than City National Bank. Interest earned must be paid out by selecting a payment option to transfer to another CNB account or ACH transaction to another financial institution monthly, quarterly, semi-annually, or annually. City Preferred rate increase does not apply to this offer. We use the daily balance method to calculate interest. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue no later than the business day of a non-cash deposit. A six-month interest penalty may be assessed on funds withdrawn prior to the maturity date.


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