Bridge over a river

RockPoint Climber CD

Take your savings to
new heights

Interest rates are changing fast in this environment. To meet the needs of depositors looking for a certificate of deposit (CD) paying a competitive rate that can increase if interest rates rise over the CD’s term, RockPoint Bank is introducing the Climber CD.

The RockPoint Climber CD has a 3-year term with an initial rate of 1.05%. It will reprice every January 3rd to 25% of Prime Rate – as published by the Wall Street Journal (WSJ) – until it matures. Once the interest rate reprices, it will not subsequently decrease regardless of what Prime Rate does during the term of the CD.

For example, the current WSJ published Prime Rate as of June 14, 2022, is 4%, and if it were to increase to 7% as of January 3 of 2023, the CD would reprice to an interest rate of 1.75% and an Annual Percentage Yield (APY) of 1.76%.

To learn more about this new product, please select the Contact Us box or call (423) 558-3400 and a RockPoint Bank representative will be happy get back in touch with you.
 
 
DISCLAIMER:
Annual Percentage Yield (APY)

Annual Percentage Yield (APY) is accurate as of 6/14/2022 and subject to change at any time without notice. A penalty may be imposed for early withdrawals. Fees may reduce earnings. The minimum balance and opening deposit requirement for the RockPoint Climber CD is $25,000. Upon maturity, if the CD is renewed, it will renew to the standard 3-year CD fixed rate which may be lower than the rate at maturity.

Calculations are based on interest that is accrued daily, compounded monthly, and paid quarterly throughout the CD Term. Calculations assume a 365-day term and interest is reinvested in the CD each quarter until it matures.