Personal
Certificates of Deposit
An easier way to grow your savings.
A certificate of deposit (CD) is a smart, secure way to save at a fixed interest rate for a set period of time. Whether you’re planning for a future expense or looking to earn more than a traditional savings account, UCSB offers a range of CD options designed to fit your goals.
Lock in a competitive rate, enjoy predictable growth, and feel confident knowing your money is working for you.
Why choose a UCSB CD?
CDs are ideal when you know you won’t need immediate access to your funds and want the confidence of a guaranteed rate.
CDs allow you to:
- Open an account with a minimum balance of $500
- Earn higher-yielding interest than a typical savings account
- Enjoy the certainty of a fixed interest rate for your chosen term
How a CD works
Choose your term, deposit your funds, and lock in a rate for the life of the certificate. At maturity, you can withdraw your balance or allow it to renew.
It’s a simple, low-maintenance way to build savings with confidence.
Minimum Balance Requirements
You must maintain the minimum deposit in the account every day in order to obtain the annual percentage yield (APY) applicable to the account.
Balance Computation Method
We use the daily balance method* to calculate the interest in your account. This method applies a daily periodic rate to the full balance in the account each day.
Transaction Limitations
After the account is opened, you may not make deposits into or withdrawals from the account until the maturity date. Deposits or withdrawals may be made on the maturity date or during the 10-day grace period that follows.
Early Withdrawal Penalties
If you withdraw any principal from your account before the maturity date, a penalty may be charged to your account based on the amount you withdraw.
Renewal Policy
Certificates of Deposit are automatically renewed at maturity. You have a grace period of ten (10) calendar days after the maturity date to withdraw the funds in the account without being charged a penalty. Interest credited to a renewed account will become part of the principal balance on the renewed account. If you do not renew the account, interest will not be paid after the maturity date.
*The Daily Balance Method applies a daily periodic rate to the full amount of principal in the account each day. A penalty will or may be imposed for early withdrawal.