With a Bank of Utah Certificate of Deposit, you get guaranteed returns on your investment.
Take Advantage of Our Digital CDs
✓ Open in as few as 5 minutes.✓ Deposit $1,000 or more to open a CD.
CD Highlights
Enjoy a Competitive, Guaranteed Rate
Earn more in interest and reach your savings goals faster, with predictable, risk-free earnings.
Bank Digitally and Personally
Access a robust suite of digital account tools, and connect with friendly banking experts.
Open Your Account Safely
Be confident that our secure banking technology protects you throughout the process. Learn more here.
Opening an account is quick and easy and can be done in as little as 5 minutes.
Here's a short glimpse of the process:
- Provide your personal information; just a few basics – no documentation needed.
- Make your initial deposit into the account, with funds from an account outside of Bank of Utah to be guaranteed the rate. Using a combination of either an account number and routing number OR username and password from another institution, transfer funds easily within the digital application.
- Read and agree to the disclosures associated with the account.
- Opt into eStatements if you'd like.
- Check your email for confirmation or next steps.
Bank of Utah is Recognized by BauerFinancial as a 5-Star Bank
BauerFinancial, Inc. is a national financial company that provides unbiased, independent star-ratings.
A Little More About Our CDs
CD accounts can only be opened by those 18 years of age or older.
When opening a CD, there may be a 24-48 hour delay between when you submit your application and when your funds are reflected in the account.
The interest rate on your account will be paid until first maturity.
For current rates on all CDs, see our Consumer Account Rates. Please note: The interest rate for your CD is locked in at the time your account is opened. This may differ from the interest rate displayed when you started or completed your application.
Maturity dates for 6-Month CDs are based on 182 days.
The annual percentage yield assumes that interest remains on deposit until maturity. A withdrawal of interest will reduce earnings.
We use the daily balance method to calculate the interest on your 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 noncash items (for example, checks).
Interest will be compounded every quarter on accounts with terms of one year or more and at maturity on accounts with terms of less than one year.
Interest will be credited to your account every quarter on accounts with terms of one year or more and at maturity on accounts with terms of less than one year.
Early withdrawal penalties (a penalty may be imposed for withdrawals before maturity):
If your account has an original maturity of less than one year, the fee we may impose will equal 91 days interest on the amount withdrawn subject to penalty.
If your account has an original maturity of one year or more, the fee we may impose will equal 180 days interest on the amount withdrawn subject to penalty.
If your account is a 30-day short-term CD, the fee we may impose is the greater of:
7 days interest on the amount withdrawn subject to penalty if the withdrawal is made within the first 6 days after the deposit
all interest on the amount withdrawn subject to penalty
In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. Other exceptions may also apply, for example, if this is part of an IRA or other tax-deferred savings plan.
The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
If you prevent renewal, interest will not accrue after final maturity. Each renewal term will be the same as the original term, beginning on the maturity date. The interest rate will be the same we offer on new time deposits on the maturity date which have the same term, minimum balance (if any) and other features as the original time deposit. You will have 10 calendars days after maturity to withdraw the funds without a penalty on CDs of 31 days or greater. On our 30-day short-term CD you will have one business day to withdraw funds without a penalty.