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Jumbo CDs offer flexible, competitively priced investments through tiered interest rates. Terms range from seven days to five years with a minimum deposit of $100,000 but not exceeding $5,000,000. CDs are a good choice for businesses looking for long and short term investments.
By providing access to up to $50 million in FDIC insurance through a single bank, CDARS (Certificate of Deposit Account Registry Service) can help simplify and improve the financial performance of businesses. With access to full insurance, businesses can say "goodbye" to surety bonds and collateralization requirements. With CDARS, businesses get one bank, one rate and one statement.
These benefits can reduce businesses administration burdens and provide organizations with more time to focus on profit-generating activities. West Bank offers this type of CD with terms of 13 weeks, 26 weeks, and one year and a minimum deposit of $10,000.