<p>A Certificate of Deposit (CD) is a time deposit banking account which allows you to save and earn a fixed interest rate by locking away your money for a set period of time called a term.</p>

<p>Yes, insured by the Federal Deposit Insurance Corporation (FDIC) up to allowable limits.&nbsp;The Federal Deposit Insurance Corporation (FDIC) grants deposit insurance of $250,000 per account title. You may also qualify for more than $250,000 in FDIC coverage at Amalgamated Bank if you have single accounts, joint accounts, Individual Retirement Accounts and trust accounts.</p>

<p>The maturity date is the last day of your CD's term.&nbsp;Your CD&nbsp;has a 10-day&nbsp;grace period before it rolls over for the same term and the current rates offered at maturity.</p>

<p>Penalties occur when a CD is withdrawn early. It will depend on the type of CD, the CD term, the interest rate, and the amount of principal withdrawn.</p>

<p>$500 minimum deposit is required to open with a maximum online deposit of $100,000.</p>

<p>Opening deposits for the promotional CD must be new money deposited into Amalgamated Bank from a non-Amalgamated Bank account.&nbsp;</p>

<p>We use the&nbsp;<strong>daily balance method</strong>&nbsp;to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.</p>

<p>Yes, a notice will be mailed 30 days before the CD matures.</p>

<p>Your CD&nbsp;has a 10-day&nbsp;grace period before it rolls over.</p>

<p>CDs cannot be closed online. You can contact us at 800-662-0860 or email us at&nbsp;<a href="mailto:AccountSupport@AmalgamatedBank.com">AccountSupport@AmalgamatedBa… guidance on how to close your CD.</p>