Don’t get hit with penalties!
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The Scotiabank Cashable Certificate of Deposit(CD) is a 12 month CD that lets you cash out anytime after 90 days – without penalties! |
Benefits
- Higher interest rates than a standard savings account
- Flexibility to access funds any time after 90 days without penalties1
- No monthly service charges2
- 2.35%APY for daily balances between $5000 - $24,9993
- Maximum 2.50% Annual Percentage Rate (APY) for daily balances of $25,000 or more3
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How It Works
- Minimum $5,000 deposit required to open an account4
- Fixed interest rate for 12 months is paid at maturity or early redemption5
- No interest is earned if funds are withdrawn prior to 90 days or minimum balance falls below $5,000
- Minimum $5,000 daily balance required to obtain 2.35% APY
- Minimum $25,000 daily balance required to obtain 2.50% APY
Visit your local branch or call us today to grow your savings!
1 The Cashable Certificate of Deposit is cashable any time after 90 days without incurring any penalties. Funds withdrawn may not exceed an amount that would bring the account balance below the minimum amount required to receive the APY.
2 A charge of $20 will apply if the check used to deposit the funds in the Cashable CD account is returned for insufficient funds.
3 The daily balance method is used to calculate the interest paid. This method applies a daily periodic rate to the principal each day. Interest will be calculated on the balance of the account at maturity or early redemption. Interest will not compound during the term. The total amount of principal and interest will be paid at the time of maturity or early redemption. If the account is closed and funds withdrawn prior to the 90-day minimum, no interest will be earned or credited.
4 No additional deposits can be made to this account after the initial opening deposit.
5 The Certificate of Deposit matures after a period of one year from the date the account is opened, at which point it will not automatically renew. If, at maturity, the customer decides to leave the funds on deposit with the bank, he/she will be required to either open a new Certificate of Deposit or to open one of the Bank’s other deposit accounts.
Rates are accurate as of 08/07/2009. Please contact any Scotiabank branch for up to date rates.
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