Certificates of Deposit (CDs)

Name: Certificates of Deposit (CDs)
Brand: Byline Bank
Price: 0.5 APY
Availability: InStock

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Promo CDs

Save more by locking in our great rates today!

6 month promo^{1, 2}

4.30%

Annual Percentage Yield

_{New funds only, defined as new to Byline.}

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11 month promo^{1, 2}

3.90%

Annual Percentage Yield

_{New funds only, defined as new to Byline.}

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Certificates of Deposit

Smart, dependable savings with competitive rates.

1 year²

0.50%

Annual Percentage Yield

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2 year²

0.70%

Annual Percentage Yield

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3 year²

0.75%

Annual Percentage Yield

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4 year²

1.00%

Annual Percentage Yield

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5 year²

1.25%

Annual Percentage Yield

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Start saving today in under 3 minutes.

CDs are a safe, stable savings option that allows you to build a predictable investment return to achieve longer term goals. With convenient online account opening in less than 3 minutes and the personal attention you’d expect from a local bank, starting to save couldn’t be easier.

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*APY = Annual Percentage Yield.
APY is effective as of November 8, 2024. See Deposit Account Agreement and Disclosure and Account Brochure for additional terms.

1. 6-month and 11-month Promo CD
Limited time offer only available when opening in Byline Bank branches or online. $5,000 minimum deposit to open. $5,000 minimum balance to earn Annual Percentage Yield (APY). New funds only, defined as new funds to Byline. Certificate of Deposit (CD) offering a 4.30% APY has a term of 6 months and applies the simple interest method, with interest paid at maturity. CD offering a 3.90% APY has a term of 11 months, with interest compounded and paid quarterly. We reserve the right to cancel or change the promotion at any time. Promotional CDs may renew into a different term. We send you a maturity notice prior to renewal. Please read it carefully.

2. Rates and Interest
Rates and annual percentage yields (APYs) are set at the bank’s discretion and are subject to change without notice. The APY assumes that interest remains on deposit until maturity. An early withdrawal will reduce earnings. A penalty may be imposed for early withdrawal. The 6-month and 11-month promo CDs require a $5,000 minimum deposit to open the account and to earn the APY. The 1, 2, 3, 4, and 5 year CDs require a $500 minimum deposit to open the account and to earn the APY. The stated interest rate is fixed for the term of the CD and will be paid quarterly until maturity, except for the 6-month promo CD. The 6 month promo CD applies the simple interest method, with interest paid at maturity. Interest may be paid by transfer to another internal account, at your option. You will forfeit any accrued interest that has not yet been credited to your account, if the account is closed prematurely. We use the daily balance method to calculate the interest on this account. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue on the business day you deposit any non-cash item (for example, checks).

Deposits
Deposits are accepted to all CDs during the grace period.

Withdrawals
You may not withdraw any principal from this Certificate before maturity without our consent, which may be withheld; if we permit such a withdrawal, you may have to pay a penalty as follows: A) Where the original maturity of the account is one year or less, the penalty will be forfeiture of 90 days interest on the amount withdrawn, at the nominal (simple interest) rate in effect during the term. B) Where the original maturity of the account is more than one year, the penalty will be forfeiture of 180 days interest on the amount withdrawn at the nominal (simple interest) rate in effect during the term. C) If the withdrawal is within 6 days after the date of first deposit, a minimum of 7 days of interest will be charged as a penalty. You must withdraw funds within the grace period to avoid being charged a penalty. Fees could reduce the earnings on the account.

Renewal
Unless you notify us in writing before the maturity date, or within the grace period, Certificates of Deposit will automatically renew on the maturity date. The grace period is ten (10) calendar days for CDs with a term greater than 31 days and is three (3) calendar days for CDs with a term of 31 days or less. We can prevent automatic renewal if we notify you in writing on or before the maturity date that we do not intend to renew the account. Promotional Certificate of Deposits may renew into a different term. If you close your CD during the grace period, no accrued interest will be paid after the maturity date. We will send you a Maturity Notice prior to renewal, please read it carefully. We may change the type, term or other feature of your CD by giving you notice. If we make a change, we tell you about the change in the Renewal Notice. See Personal Deposit Account Agreement and Disclosures for additional terms and conditions.