Business Banking

Certificate of Deposits

ECAB’s Certificate of Deposits offer competitive returns on your money. They are a great choice if you plan to save for specific goals or start investing money towards expansion. Our options include Fixed and Flex CD’s offering attractive rates and terms ranging from 3 to 12 months.

Our CDs are available in XCD and USD currencies and they are ideal for long and short-term investments.

ACCOUNT		MINIMUM DEPOSIT	FEATURES & BENEFITS
FIXED DEPOSIT	An ECAB Fixed Deposit opens the door to peak financial performance with higher rates of interest and a wide range of terms.	$5,000.00	Competitive Interest rates starting at 2.00% p.a. Minimum Deposit requirement $5,000. Available in 3, 6 & 12 month terms. Interest paid upon maturity
FIXED DEPOSIT USD	Earn higher interest rates on your US currency without having to convert	US$2,000.00	Competitive Interest rates. Minimum Deposit requirement US$2,000. Available in 3, 6 & 12 month terms. Interest paid upon maturity

CD Terms and Conditions:

• No withdrawal or deposits are allowed on fixed deposit accounts other than at maturity date.
• *Penalty free withdrawals are limited to 1, 2 & 3 withdrawals for the duration of the 3, 6  & 12 month Flex CD.
• There is a penalty forfeiture of 2 months interest on the Flex CD if the withdrawal amount exceeds 25% of the current balance. 
• Ten (10) days notice is required for large withdrawals. 
• Minimum additional deposits of $2,000 can be made at any time.
• If the minimum balance falls below $5,000, the interest will be converted to the prevailing savings rate.
• Interest is forfeited for early redemption within 3 months of opening date, and calculated at the prevailing Regular Savings rate for early redemption after 3 months of opening date.
• Quoted interest rates applicable only to the initial CD term; the bank’s prevailing interest rate is applied upon renewal.