Certificates of Deposit

1.75 %APY*

You earn a top rate with no penalty for early withdrawal*. That means you have access to a great rate and your money.

Certificates of Deposit Advantages

Benefits of investing in a CD Account include:

  • Interest compounded daily, credited monthly and at maturity
  • Various terms from three months to 84 months
  • A grace period of 10 calendar days to renew
  • No monthly fees  
  • Free online and mobile banking  
  • $500 minimum to open  

Certificates of Deposit FAQs

Like a standard Statement Savings account, a CD helps you earn more money by paying interest on your funds. It differs from a savings account in that you agree to a preselected term to deposit your funds in the bank. Different CDs vary in their fixed deposit periods. At Dime, deposit periods range from as few as three months to as many as seven years, and at Dime (and in general), the longer the deposit period, the higher the interest rate for your CD.

All you need to open a certificate of deposit at Dime is $500 and a few minutes to stop by a branch to open your new account. Even if you don’t have an existing checking or savings account with Dime, you can still invest your money quickly and easily in a secure CD. A bank representative will help you create your account and advise on the deposit term based on your individual financial goals and situation.

CDs are a great way to jump-start your savings goals, especially if you have a lump sum of money saved that you know you won't need to access for a certain length of time. Great for recent graduates who have some initial savings, or monetary gifts that can be grown even more by waiting a short period to use the funds, CDs provide a low-risk savings option to help all kinds of savers reach their goals more quickly. Whether it's a signing bonus from starting that new job or an unexpected windfall, a certificate of deposit is an easy way to grow your savings without having to think about it.

CD interest rates almost always vary depending on the term of the deposit. A longer deposit period often results in a greater interest rate.

View current rates here

Get Online Banking

By opening a CD Account, you get free online banking and bill pay with Dime. Sign up to enjoy the flexibility, convenience and security you need. 

*500 minimum balance is required to open and earn the Annual Percentage Yield (APY) on this special CD account offering. APY is effective 1/23/19. No penalty promotional CD is for a 14-month term from date of account opening. To receive no penalty benefit, money must remain in the account for the first seven days. Any withdrawal within that first seven-day period would be a CD premature withdrawal and is subject to penalty (fees may reduce earnings). After the first seven days, account holder may withdraw the full amount at no penalty. No partial withdrawals are allowed at any time. This action will effectively close out the account. Deposits insured to the maximum amount allowed by law.

Dime Community Bank reserves the right to cancel or modify this offer at any time without notice and to limit the number of accounts opened. This offer is limited to one per household and only available to consumer accounts and New York State residents. Funds to open this account cannot be transferred from any existing Dime account. New money only.