Certificates of Deposit

Opening a CD can be a wise move. You can enjoy higher fixed interest rates while still having all the security of an FDIC-insured*** savings account.

No Penalty CD

Got commitment issues? No problem. Make early withdrawals and pay no penalties.

Standard CD

Go long, or go short, it’s all good. Choose short- or long-term savings options.

Flex CD

Think of this as: No-Penalty CD + Standard CD = A marriage made in CD heaven.

Promotional CD

Turbo boost your savings with higher rates, and even bigger earnings.
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  • Most Popular
  • No Penalty Early Withdrawal
  • Low Opening Deposit
  • Best Rates
Flex CD Promotional

Description

Enjoy 7 months with no penalties for early withdrawals, followed by 8 months with fees for early withdrawals.*

Allows for greater earnings with higher interest rates.

Service Fee

$0

$0

Minimum Opening Deposit

$5,000

$5,000

Available Terms

15 months

17 months

Maximum Balance

$500,000

$1,000,000

Early Withdrawal Fee

*Varies. First 7 months incur no fees for early withdrawals.

Yes

Maturity Grace Period

10 calendar days

10 calendar days

Interest Compounding

Quarterly

Quarterly

Interest Payout

Quarterly and at maturity

Quarterly and at maturity

Relationship Pricing

 0.10% higher interest rate with linked qualifying checking account**

 0.10% higher interest rate with linked qualifying checking account**

For More Information

Simple Guide

See Deposit Rates

Simple Guide

See Deposit Rates

No Penalty CD Flex CD

Description

Offers competitive fixed rate savings and the option for early withdrawals with no penalties.

Enjoy 7 months with no penalties for early withdrawals, followed by 8 months with fees for early withdrawals.*

Service Fee

$0

$0

Minimum Opening Deposit

$5,000

$5,000

Available Terms

7 months

15 months

Maximum Balance

$250,000

$500,000

Early Withdrawal Fee

No

*Varies. First 7 months incur no fees for early withdrawals.

Maturity Grace Period

10 calendar days

10 calendar days

Interest Compounding

Quarterly

Quarterly

Interest Payout

Quarterly and at maturity

Quarterly and at maturity

Relationship Pricing

 0.10% higher interest rate with linked qualifying checking account**

 0.10% higher interest rate with linked qualifying checking account**

For More Information

Simple Guide

See Deposit Rates

Simple Guide

See Deposit Rates

Standard CD

Description

Allows for a low opening deposit and flexible options for long- or short-term savings.

Service Fee

$0

Minimum Opening Deposit

$1,000

Available Terms

7 days to 7 years

Maximum Balance

No limit on balance

Early Withdrawal Fee

Yes

Maturity Grace Period

10 calendar days

Interest Compounding

Varies, see Simple Guide

Interest Payout

Varies, see Simple Guide

Relationship Pricing

 0.10% higher interest rate with linked qualifying checking account**

For More Information

Simple Guide 

See Deposit Rates

Promotional Flex CD

Description

Allows for greater earnings with higher interest rates.

Enjoy 7 months with no penalties for early withdrawals, followed by 8 months with fees for early withdrawals.*

Service Fee

$0

$0

Minimum Opening Deposit

$5,000

$5,000

Available Terms

17 months

15 months

Maximum Balance

$1,000,000

$500,000

Early Withdrawal Fee

Yes

*Varies. First 7 months incur no fees for early withdrawals.

Maturity Grace Period

10 calendar days

10 calendar days

Interest Compounding

Quarterly

Quarterly

Interest Payout

Quarterly and at maturity

Quarterly and at maturity

Relationship Pricing

 0.10% higher interest rate with linked qualifying checking account**

 0.10% higher interest rate with linked qualifying checking account**

For More Information

Simple Guide

See Deposit Rates

Simple Guide

See Deposit Rates

Additional Benefits Include

Have your interest credited to your CD or a Bank of Oklahoma checking, savings or money market account.

  • Many of our CDs can be styled as IRAs and Roths.
  • In many cases, a Bank of Oklahoma CD can be used as collateral for a Bank of Oklahoma loan.
  • ***FDIC Insurance

    The Federal Deposit Insurance Corporation (FDIC) is a US government corporation that insures the money in your accounts up to $250,000. Our CDs, checking accounts, savings accounts, and money market accounts are insured up to the maximum $250,000 per depositor, as allowed by law.

    Minimum Balance Requirements

    Minimum balance requirements vary for different CD products:

    • $1,000 Standard CDs
    • $5,000 Promotional CDs
    • $5,000 No-Penalty CDs
    • $5,000 Flex CDs

    **Additional Fees and Disclosures

    **Bonus interest rate is not automatically applied and must be requested. Accounts are not automatically linked. Please notify your banker which accounts should be linked. If the Premier or Select Checking account is closed for any reason, or the link with another account terminated for any reason, the bonus interest rate on the linked account will be discontinued and the interest rate provided by the terms of the agreement(s) governing the savings account, CD, or select FDIC insured IRA will become applicable.

    Download our Summary of Fees and our Agreements and Disclosures.

    How It Works: Certificates of Deposit

    A CD is a Certificate of Deposit. It's as secure as a savings account, but offers higher interest in exchange for your willingness to keep your money in the bank for a fixed period of time. Your money will grow faster than if you keep it in a savings account, but unlike savings accounts, there are limitations on when you can withdraw funds from a CD.  A CD has a maturity date and grace period which allows for withdrawal, but if you withdraw funds before then, you may have to pay an early-withdrawal fee.

    CD laddering is an investment strategy that takes advantage of the higher interest rates that CDs offer while still offering a bit of liquidity for your investment. To do it, you divide the amount of money you want to have in CDs, and invest smaller amounts into different CDs with varied maturity dates. You might put money into a one-year, two-year and three-year policy, and when the first CD expires, if you don't have an urgent need for it, you can put that money into another three-year CD. This way, eventually you'll have a rotating portfolio of the highest interest rates, while still having the option to take out your money every year.

    When you've decided which CD you'd like, simply call our ExpressBank at (800) 234-6181 or stop by one of our banking centers today. We'll get you set up with an account right away.

    Frequently Asked Questions

    Got questions? We've got answers. And, if you don't find what you're looking for, sign in to Online Banking and visit our Actions and Tools menu to send us a Secure Message or call us at (800) 234-6181.

    Is there a monthly fee for this account?

    There is no monthly fee for CDs.

    Can I take money out of a CD early?

    For most of our CDs, there is an early withdrawal penalty when you withdraw money before your CD’s maturity date. The following early withdrawal penalties apply to Time Deposits and Certificates opened on or after July 25, 2018, and also apply during any renewal terms for any Time Deposit or Certificate that commence on or after July 25, 2018 (regardless when the Time Deposit or Certificate was originally opened):

    No Penalty CD

    • You may withdraw all your money, including interest earned, without any penalties, any time after the first 7 days following the date you fund your account.

    Flex CD:

    • Months 0 – 7: You may withdraw all your money, including interest earned, without any penalties, any time after the first 7 days following the date you fund your account.
    • Months 8 - 15: Your fee will be $25 plus 3% of the amount withdrawn.

    Promotional CD

    • Your fee will be $25 plus 3% of the amount withdrawn

    Standard CD:

    • If your Maturity Period is not more than one year, your fee will be $25 plus 1% of the amount withdrawn.

    Please note:

    • The amount of your penalty may be deducted from principal.
    • Exceptions: We will waive the penalty if your request for withdrawal to close the CD occurs during the grace period, or if the depositor passes away or is judged legally incompetent.

    For more information on early withdrawal penalties, please download our Agreements and Disclosures.

    How much interest will I earn on this account?

    We offer very competitive interest rates. View our deposit rates for more information.

    How can I open an account?

    To open your CD, call our ExpressBank at (800) 234-6181 or stop by one of our banking centers today.

    Ready to Get Started?

    Talk with a specialist: (855) 202-8729, M-F: 8 a.m. - 6:30 p.m. (CT), Sat: 8 a.m. - 4:30 p.m. (CT)

    Schedule an Appointment

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