Fixed APY per term
Your APY is established at opening for that term and disclosed in writing before funds are committed.
Certificates of Deposit
A fixed-rate deposit product for funds you can commit to a stated term. Sky CDs support goal-based planning, ladder strategies, and known maturity dates while preserving FDIC coverage on qualifying deposits within applicable statutory limits.
- Fixed APY for the selected term and funding date
- Term options designed for short, medium, and longer horizons
- Early withdrawal penalties disclosed before you open
Fixed-rate certainty
Lock an APY for the chosen term so projected earnings are easier to model.
FDIC coverage
Qualifying CD deposits are insured up to applicable legal limits.
Ladder flexibility
Stagger maturity dates to maintain liquidity windows over time.
Clear disclosures
Term, APY, renewal timing, and early withdrawal penalties are documented before opening.
Designed for disciplined time horizons
Sky CDs are structured for balances you can leave on deposit for a known period while keeping documentation clear for treasury planning.
Ladder-ready structure
Open staggered maturities to balance yield goals with recurring access to principal.
Predictable maturity planning
Align CDs to tax obligations, tuition cycles, or scheduled capital deployment windows.
Short term
3 to 9 months
Useful for near-term obligations
Core term
12 to 24 months
Balances yield and liquidity
Extended term
36+ months
For longer dated reserve pools
How clients build CD ladders
Laddering spreads principal across multiple maturities so all funds are never locked at the same point in time.
- Split your deposit across several term lengths.
- As each CD matures, decide to withdraw or roll into a new term.
- Repeat on a cadence that matches your cash forecast.
Terms, minimums, and disclosures
Summary information below supports early comparisons. Your opening disclosures govern the exact APY, term, renewal process, and penalty language for your selected certificate.
| Topic | Certificates of Deposit |
|---|---|
| Minimum opening deposit | $500, unless your banker presents an eligible promotional minimum in writing. |
| Monthly maintenance fee | $0 monthly maintenance fee. |
| Early withdrawal penalty | Penalties apply if funds are withdrawn before maturity. The exact calculation appears in your product disclosure. |
| Renewal handling | Renewal notices are delivered before maturity and include the options available for your account. |
Maturity instructions, grace periods, and applicable exceptions are defined in your account agreement.
Track every maturity in digital banking
View certificate status, maturity dates, and messaging in the same workspace as your Sky checking and savings accounts.
- Maturity date dashboards for each active certificate.
- Secure document delivery for renewal and disclosure notices.
- Support routing to Private Client Service for maturity instructions.
Available features depend on enrollment and account permissions in your Online Banking Agreement.
Rates and maturity
CD APYs are fixed for the selected term at opening. Rates vary by term length and may differ across promotional windows.
The funded date, term, and APY on your receipt govern the earnings schedule for that certificate.
Renewal options and prevailing rates are provided before maturity, so you can decide whether to roll over or move funds.
Frequently asked questions
How do I open a Sky CD?
Schedule an appointment with Private Client Service at this link or call +1 317 552 0423 to review term options and disclosures before funding.
Can I withdraw before maturity?
Yes, but early withdrawal penalties can apply. The exact formula is disclosed in your account documentation.
Do CDs renew automatically?
Renewal handling depends on your selected option and account terms. You will receive maturity and renewal notices in advance.
Are CD rates variable?
No. A CD rate is fixed for the term after opening. New rates apply only to new certificates or renewals.
Ready to structure your CD ladder?
Meet with a banker to map terms, disclosures, and maturity dates to your liquidity calendar.