Millennium Bank if offering a 6 month Certificate of Deposit that currently has a 3.25% APY. The special rate is a promotion rate and the offer can be withdrawn at any time. The minimum opening deposit $1,000.
The Bank may impose a penalty for early withdrawal from a CD. Millennium Bank also uses the daily balance method to calculate interest on accounts. This method applies a daily rate to the principle in the account each day.
Millennium Bank's terms and conditions for the CD account
Minimum Opening Balance: $1,000.00
Interest on the CD account will be compounded and paid quarterly.
You can choose to have interest paid by check or transferred to another Account.
The Certificate of Deposit will automatically be renewed at maturity for an equal term at the then current rate.
10 Business day grace period after the maturity date to withdrawal funds without being charged for an early withdrawal penalty (you will be sent a reminder before the CD matures and confirmation of the renewal)
There are early withdrawal penalties based on the term of the CD.
At this time the bank does not allow you to open a CD online or over the phone, you will have to visit a Millennium bank branch location to open an account.