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CD & IRAs

CD & IRAs


Exceptional CD Rates for Exceptional Customers

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Certificates of Deposit (CD)

At Central Pacific Bank, we offer a variety of certificate of deposit (CD) options that make it easy to find the best option for your needs. A CD is a great option for you if you are looking for a safe and secure way to grow your savings.

3 Reasons Why People Like CDs with CPB

Maximize Your Savings: Discover our diverse selection of Certificates of Deposit (CDs) at CPB, designed to enhance your savings strategy while ensuring the security of your funds. Explore our CD offerings today!

Exceptional Customer Service: We prioritize your peace of mind by safeguarding your funds from market volatility. Our dedication to customer satisfaction has earned CPB recognition as one of the best regional banks in Hawaii by Newsweek Magazine.

Secure Deposits: As the first FDIC-insured bank in Hawaii, CPB protects your deposits up to $250,000 per account, giving you confidence in your financial choices.

With such strong support from Newsweek, and being FDIC insured, choosing CPB for your CD is a no brainer! And don't forget about our wide selection of CD options so you can easily find one that meets your needs. So don't wait any longer – visit one of our many branches and get started on building a secure financial future!

With a CD, you can earn a higher rate of interest than a typical savings account. See current rates >

IRAs (Individual Retirement Accounts)1

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).

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.

 

1. A penalty may be imposed for early withdrawal. Please consult your tax advisor for more information.

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