Certificates of Deposit.
Bring New Money.
Earn Even More.

A Certificate of Deposit (CD) is a savings account that lets you earn a fixed rate for a set period of time, called the term. In exchange for leaving your money in the account until maturity, you can earn a predictable return on your savings.

You choose the amount you’d like to deposit and a CD term that fits your goals. Your rate is fixed when the CD is opened, and your money earns dividends until the CD reaches maturity.

You can open a Tropical Financial CD with a minimum deposit of $500. The minimum average daily balance to earn the stated APY is also $500.

Tropical Financial has multiple term options. Choose a shorter term if you may need access to your funds sooner, or consider a longer term if your savings goal is further away. 

APY means Annual Percentage Yield. It shows how much you can earn in one year, including the effect of dividends remaining in the CD and compounding over time.

Yes. Once your CD is opened, its rate remains fixed for the length of that term. Your rate will not change even if market rates rise or fall during that time.

Yes. CDs, also called share certificates at credit unions, are covered by NCUA share insurance at federally insured credit unions. Coverage generally protects eligible deposits up to $250,000 per member-owner, per ownership category, including principal and posted dividends 

You may be able to withdraw funds before maturity; however, an early-withdrawal penalty will apply. The penalty may reduce your earnings and, depending on the circumstances, could reduce your principal. Please review the applicable account disclosures or contact us for details before withdrawing funds early.

At maturity, you’ll have an opportunity to decide what to do with your funds. Depending on the account terms, you may be able to withdraw the funds, add funds, or renew into a new CD term. Contact Tropical Financial or review your maturity notice for the options and timing that apply to your account.

A CD may be eligible to secure certain loan products. Contact Tropical Financial to discuss available secured borrowing options and eligibility requirements.

Start with when you expect to need the money. A shorter term may work well for a near-term goal, while a longer term may make sense for funds you do not expect to use for several years. Consider keeping emergency savings in a more accessible account before committing funds to a CD.

Because early withdrawals can result in a penalty, CDs may not be ideal for all of your emergency savings. Consider keeping money you may need immediately in a liquid savings or money market account, then using CDs for funds you can leave untouched until maturity.

Yes. Tropical Financial offers IRA Certificates for eligible individual retirement accounts, with terms that align with its CD options. IRA certificates are for individuals and cannot be opened under a business account.