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Certificates

Ottawa Savings Bank offers standard certificate of deposit terms from six-months to five years. We also offer step-rate and penalty free certificates. Please call for the specific terms for each account.

The Annual Percentage Yield (APY) for CD's as of ,

TermMinimum BalanceInterest RateAPY
6 month$1,000.000.80%0.80%
9 month$1,000.000.80%0.80%
12 month$1,000.000.90%0.90%
18 month$1,000.001.00%1.00%
24 month$1,000.001.24%1.25%
30 month$1.000.001.00%1.00%
36 month$1,000.001.34%1.35%
48 month$1,000.001.49%1.50%
60 month$1,000.001.99%2.00%

An early withdrawal penalty may apply to certificate accounts. The Truth in Savings disclosure is available upon request. APY's are accurate as of the above date and are subject to change at any time. The APY assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. Offer may be withdrawn at any time.  Ask to see Account Disclosure for details.

 

CD Specials

15 Month CD Special

  • $2,500.00 Minimum Balance to Open and Earn the APY*
  • 2.33% Interest Rate
  • 2.35% APY*
  • IRA's do not qualify for this CD Special.

*Annual Percentage Yield (APY) accurate as of , .

An early withdrawal penalty may apply to certificate accounts. The Truth in Savings disclosure is available upon request. APY is accurate as of the above date and are subject to change at any time. The APY assumes interest will remain on deposit until maturity.  A withdrawal will reduce earnings.  Offer may be withdrawn at any time.  Ask to see Account Disclosure for details.

55 Month CD Special

  • $2,500.00 Minimum Balance to Open and Earn the APY*
  • 2.75% Interest Rate
  • 2.78% APY*
  • IRA's do not qualify for this CD Special.

*Annual Percentage Yield (APY) accurate as of , .

An early withdrawal penalty may apply to certificate accounts. The Truth in Savings disclosure is available upon request. APY is accurate as of the above date and are subject to change at any time. The APY assumes interest will remain on deposit until maturity.  A withdrawal will reduce earnings.  Offer may be withdrawn at any time.  Ask to see Account Disclosure for details.

Escalator CD

With an Ottawa Savings Bank Escalator CD you're earning a competitive return that goes up every six months...guaranteed!

At the end of each 6 month period you can withdraw your total balance...no penalties, no questions.

Or you can make an additional deposit once, at the end of the first 6 month period up to the amount of your original deposit.

18 month term - Interest rates are: 1.75% 1st six months, 2.50% 2nd six months and 3.00% for final six months.   APY* is 2.44%.

24 month term - Interest rates are: 1.10% for 1st six months, 1.30% for 2nd six months, 1.55% for 3rd six months and 1.85% for final six months.   APY* is 1.45%.

*Annual Percentage Yield (APY) accurate as of , .

$5,000 minimum to open and earn this yield.  Penalty for early withdrawal may apply other than during the 7 days after each 6 month period.  If an additional deposit is made, it must be made during the 7 days after the first 6 month period.  The Truth in Savings disclosure is available upon request. APY's are accurate as of the above date and are subject to change at any time. The APY assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. IRA's do not qualify for the Escalator CD's. Offer may be withdrawn at any time.  Ask to see Account Disclosure for details.

IRA CD Special

Give your retirement nest egg a boost with our high rate IRA CD Special.

  • 18 Month Term
  • $1,000.00 Minimum Balance to Open and Earn the APY*
  • 1.74% Interest Rate
  • 1.75% APY*

*Annual Percentage Yield (APY) accurate as of , .

An early withdrawal penalty may apply to certificate accounts. The Truth in Savings disclosure is available upon request. APY is accurate as of the above date and are subject to change at any time. The APY assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. Offer may be withdrawn at any time.   Ask to see Account Disclosure for details.

The College Saver CD

Time flies by fast and high school graduation will come sooner than you think. Ottawa Savings Bank College Saver CD is a great way to prepare you and your child for that day.

  • Requires a minimum of $250.00 to open
  • CD's available from 6 months to 5 years (with interest rates varying upon term)
  • Add to your CD at any time with a minimum deposit of $25.00
  • Maximum of $5,000.00 total deposits for the year per child

An early withdrawal penalty may apply to certificate accounts. The Truth in Savings disclosure is available upon request. APY is accurate as of the above date and are subject to change at any time. The APY assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. IRA's do not qualify for the College Saver CD. Offer may be withdrawn at any time.   Ask to see Account Disclosure for details.

Contact us for more information.