CD & IRAs
CD & IRAs
Preferred Certificate of Deposit Special (CD)
Limited time offer:
4.40%APY
for 11 months1
(Minimum $20,000 new funds from another institution. Must have CPB Exceptional Checking Account.)
Interest Rate |
Annual Percentage Yield (APY) |
Minimum Balance to Open |
Minimum Balance3 to Earn Interest |
|
|---|---|---|---|---|
Preferred CD Special 11 months2 |
4.40% |
4.40% |
$20,000 |
$20,000 |
Interest Rate |
Annual Percentage Yield (APY) |
Minimum Balance to Open |
Minimum Balance3 to Earn Interest |
|
Preferred CD Special 11 months2 |
4.40% |
4.40% |
$20,000 |
$20,000 |
1. As long as you are an Exceptional Plan customer, you may open and maintain Preferred Certificate of Deposit. Limited time offer. Annual Percentage Yield (APY) is accurate as of June 20, 2023. Minimum balance to obtain APY is $15,000. Customer may not have more than $1,000,000 in the CD. CD qualifies towards Exceptional Checking balance. APY assumes interest will remain on deposit until maturity. Fees may reduce the earnings on the CD account. Penalty will be imposed for early withdrawal. Offer is subject to change and is not combinable with other offers. Other restrictions may apply. This is the daily balance (i.e., the amount of principal in the account each day).
Certificates of Deposit (CD)
With a CD, you can earn a higher rate of interest than a typical savings account.
IRAs (Individual Retirement Accounts)7
Make contributions today and you could defer taxes until retirement.
Traditional IRA
A traditional IRA is a tax-deferred retirement savings account which means money that you deposit and the interest you earn are not taxed until you make withdrawals in retirement. Deferring taxes allows an IRA to grow faster because all your contributions and earnings can compound each year without being hindered by taxes.
Roth IRA
If a Traditional IRA seems too restrictive, a Roth IRA may be more suitable. It's available to more people, allows couples to contribute more, grants greater flexibility with withdrawals, and offers better tax benefits. You can even convert your existing IRA to a Roth IRA (consult with your tax advisor).
- Tax-Free Earnings
- Tax-Free Withdrawals
- No Mandatory Withdrawals. You can continue to earn tax-free income because you are never required to take a distribution from a Roth IRA, even if you are over age 70½.
- First Home Purchase Withdrawal. You can withdraw up to $10,000 from your account Federal tax-free and IRS penalty-free for the purchase of a first home (account must be open for at least 5 years).
3. A penalty may be imposed for early withdrawal. Please consult your tax advisor for more information.
For more information, visit any Central Pacific Bank branch or call our Customer Service Center at (808) 544-0500 or toll-free at 1-800-342-8422.