FDIC-Insured - Backed by the full faith and credit of the U.S. Government
No-Penalty CD with Great Rates
- Locked in competitive rates with flexibility
- No early withdrawal penalty
- Easy online account opening
- $25,000 minimum balance. Various terms available.
FEATURED RATES
Select the CD Term that Suits You Best
This is your opportunity to lock in a great rate and keep your funds growing. And best yet, you can change your mind any time!
Easy Online Account Opening
In just a few clicks, you can open a CD account and start earning more on your savings.
Predictable Returns
No Hidden Fees
FDIC Insured
Frequently Asked Questions about No-Penalty CD
No, the amount you funded at account opening is the set amount for the CD term. You will not be able to deposit more funds once the account is open. The minimum amount to open the No-Penalty CD is $25,000.
You can only withdraw the entire balance from your No-Penalty CD account, and once the funds are withdrawn, the account will be closed. No partial withdrawals allowed.
Your CD will be automatically renewed. You will receive a maturity notice notifying you the upcoming CD maturity date. You will have ten (10) calendar days after the maturity date is you wish to make changes or withdraw your funds.
The biggest advantage for a CD is that you lock down an attractive interest rate for a certain period of time. For example, if the Fed is anticipating rate cuts in the next 12 months, then it will make sense to lock in a high interest rate through a CD when you consider your savings.
Questions?
Email us at [email protected] or call us at 212-266-9200.
*Annual Percentage Yield (APY) as of 8/4/25 and subject to change at any time. The APY is based upon the maximum term of deposit for each maturity range. FDIC insurance is up to $250,000 per depositor, for each account ownership category. Offer good for the initial term only. $25,000 minimum CD funding amount is required to qualify for the promotional rates with funds not currently on deposit at Piermont Bank. Please email [email protected] to open a CD greater than $1,000,000.