Harris Bank Certificates of Deposit (CDs)

Certificates of Deposit—Locked-in Interest Rates

Harris Bank certificates of deposit are an excellent vehicle by which to lock in high interest rates for the term of the cd.  The bank has short and long term cds—terms as short as one month are available.

One or Two Month CDs—Short Term, Great Rates

The Harris Bank short term certificate of deposit is an excellent investment vehicle which yields high interest rates for a short, fixed term.  Because of the high interest rates a minimum opening deposit of $100,000 is required.  The one and two month term cd interest rates are currently .10% APY.  The account is eligible for automatic renewal at maturity.  However, if you withdraw any fund from the account so the balance is dips below $100,000 will not yield the .10% interest rate.

Three Months to Five Years—A Term for Every Situation

For accounts with terms longer than two months Harris Bank offers a wide variety of competitive cd interest rates and terms to fit your needs.  These cds have a minimum opening deposit of $1,000.  The interest rates are variable according to the selected term.  The Harris Bank website has an easy-to-understand table of minimum deposits, terms and interest rates.  For nine month or shorter term cds, interest is compounded daily and paid at maturity.  On terms of twelve months or greater, interest is compounded daily and paid quarterly.  All cds with a balance of at least $5,000, the interest may be deposited to the cd, another Harris account or paid by check.

Market-Linked Cd—Guaranteed Investment, Equity Returns

The Harris Bank market-linked cd secures your initial investment while allowing it to be indexed to the stock market for potentially the highest cd rates possible.  The rate of return for this cd is based on certain indices of the stock market.  Since the return depends on the performance of the selected index there is no guaranteed interest rate however your principal investment is always safe.  This product is excellent for giving your investments some exposure to the stock market while giving you the safety of a guaranteed principal.  The minimum opening deposit for the market-linked cd is $15,000 and has the potential of being the best 6 month cd interest rates available.  Another advantage is the market-linked certificate of deposit is not available at all online banks.

Harris Bank CD Notes

The bank’s cd interest rates are competitive but Harris also offers two unique products in the short term and market-linked certificates of deposit.  These cds have some of the highest interest rates possible.  The other cds have competitive interest rates compared to other online banks.