Certificates of Deposit (CDs)
If you’re looking to invest your savings so you can accomplish your short- and long-term goals, Bank of Utah has the tools to help you save more effectively, with a Certificate of Deposit (CD).
Bank of Utah has a number of CD options. See all of our CD terms and rates here.
Our featured 6-Month and 1-Year CDs can be opened safely online — in as few as 5 minutes.
Featured CDs
6-Month CD: Regular/Jumbo
• Get 4.65% APY on a 6-Month CD, available on investments between $1,000-$99,999.
• Get 4.75% APY on a 6-Month Jumbo CD, available on investments over $100,000.
1 Year CD: Regular/Jumbo
• Get 5.20% APY on a 1 Year CD, available on investments between $1,000-$99,999.
• Get 5.30% APY on a 1 Year Jumbo CD, available on investments over $100,000.
Great Features Come Standard
Choose Your Term & Amount
With minimum deposits ranging from $1,000 to $100,000, and terms from 30 days to 5 years
Get Competitive Rates
With a guaranteed fixed rate of return to help you make the most of your money
Enjoy Risk-Free Investments
With FDIC insurance, so you can worry less while watching your money grow
Bank Personally & Digitally
With a combination of in-branch services and online and mobile banking tools
Build Relationships
With trustworthy, knowledgeable bankers who offer friendly guidance
Go Paperless
With e-statements, which are kept on file for 7 years and are free to access if you need them
Our Full Lineup
Planning on depositing or earning more than $250,000?
Bank of Utah is a member of a special banking network known as the Certificate of Deposit Account Registry Service (CDARS). This service helps consumers who invest in CDs keep their money insured by staying under the FDIC insurance limit of $250,000 per depositor per bank.
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.
The interest rate for a 6-Month CD is 4.60% with an annual percentage yield of 4.65%.
The interest rate for a 6-Month Jumbo CD is 4.69% with an annual percentage yield of 4.75%.
Maturity dates for 6-Month CDs are based on 182 days.
The interest rate for a 1-Year CD is 5.10% with an annual percentage yield of 5.20%.
The interest rate for a 1-Year Jumbo CD is 5.20% with an annual percentage yield of 5.30%.
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 182 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.
