Certificate of Deposits
"The Park Avenue Bank Gemstone Collection" Our Featured Certificates of Deposit
The Park Avenue Bank offers a rich selection of CDs just right for your needs. If you're looking to earn better than competitive rates on short or long term funds, we offer you a substantial choice of CDs.
And, you'll always have access to view and manage your funds through our convenient online banking service.
Our CDs feature an array of types designed for flexibility and both short-term and long-term planning. We'll make it as easy as possible to help you determine which CD is best for your financial goals and requirements.
Interest is compounded daily and can be paid monthly, quarterly, semi-annually or at the end of the CD's term to your checking or savings account, or we will be happy to make your interest payments directly via bank check. For CDs with terms of one year or less, interest can paid at maturity or credited to your CD each month.
CDs renew automatically at maturity for the same term. If you choose not to renew your CD, you have a seven calendar day grace period after the CD matures to let us know, either in person or in writing. CDs that are automatically renewed earn the interest rate in effect on the renewal date for that term.
Call us to find out more about our superior rates and official terms; we can help you find the perfect product to increase your funds.
Withdrawal Penalties
- Less than 3 month CD - will forfeit interest earned since the inception of the account
- 3-11 month CD - 30 days' simple interest
- 1 year to less than 2 year CD - 90 days' simple interest
- 2 years to 5 years CD - 180 days' simple interest
Further Information
Our CDs are FDIC insured up to $100,000.
The Annual Percentage Yield (APY) assumes interest remains on deposit for the full term of the CD. A penalty will be imposed for early withdrawal of principal and will reduce earnings.
Product and rate information is accurate as of the date issued and is subject to change at any time. For current interest rates and annual percentage yield, please see a bank representative.
At The Park Avenue Bank, we like to keep things simple for our customers. So whichever CD product you choose, our highly competent, professional customer service representatives are happy to answer your questions about additional options, making your financial planning and banking as profitable and beneficial as possible.
You may call or visit us at one of our branch locations, conveniently located in Manhattan and Brooklyn.
Toll Free Number: 1-(877) PAB-3336
