30 Month CD Promo 2.85%APY*

5 Year CD and IRA Promo 2.75%APY**

 

 

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* 30 Month CD Promo 2.85%APY ~ This offer is available for personal and business customers. To receive the promotional 2.85% APY (Annual Percentage Yield), the minimum balance required to open the 30 Month CD Promo account is $1,000 or more with funds not currently on deposit with BankRI. This offer does not include Individual Retirement Account (IRA) products. After the account is opened or renewed, you may not make deposits into or withdrawals of principal from your account until the maturity date. If you withdraw any principal before the maturity date, a penalty will be charged to your account. The penalty will be equal to 90 days interest, if the term of your account is one year or less. If the term of your account is greater than one year, the penalty will equal 180 days interest. The penalty will be calculated using the interest rate in effect on the date your account was opened or renewed. You must pay the full penalty regardless of the length of time the principal amount withdrawn has been on deposit. This may result in a reduction of principal. We will waive the penalty under certain circumstances, such as the death or incompetence of an account holder. Fees could reduce earnings. FDIC insured. Limited time offer, rate and product are subject to change without notice. Refer to the Certificate of Deposit Disclosure on the BankRI website for additional terms.

** 5 Year CD & IRA Promo 2.75%APY ~ Special rate must be requested at account opening for 5 Year CD or IRA. To receive the promotional 2.75% APY (Annual Percentage Yield), the minimum balance required to open the CD account is $10,000 or more with funds not currently on deposit with BankRI and the minimum balance required to open the IRA account is $1,000 or more. At the end of promotional term, the APY will change to the prevailing rate of BankRI’s current 60 month CD at that time. If you withdraw any principal after the allowed withdrawal and before the maturity date, a penalty equal to 180 days’ interest will be charged to your account. The penalty will be calculated using the interest rate in effect on the date your account was opened or renewed. You must pay the full penalty regardless of the length of time the principal amount withdrawn has been on deposit. This may result in a reduction of principal. We will waive the penalty under circumstances, such as the death or incompetence of an account holder. Fees could reduce earnings. Interest will be compounded monthly. This offer cannot be combined with other offers. Limited time offer, rate and product are subject to change without notice. One penalty free withdrawal is allowed for the 60 month CD (IRA not included) during the promotional 60 month term (excludes account closure).