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Savings and Certificates

Secure account options that help you plan for your financial future

With many accounts featuring a low opening balance and very competitive rates, Redwood Capital Bank offers FDIC-insured secure options to meet your needs.  From student savings accounts to IRA plans that help you save for retirement, we have easy and safe account options designed to enhance your banking relationship.

Account Options

Redwood Capital Bank’s most simple interest-earning savings account.

Features:

  • Low minimum opening balance
  • Unlimited deposits and in person cash withdrawals
  • An additional activity fee may apply for each transaction over the legal limit of six.
  • Free Online Banking
  • FDIC insured

Interest:

  • Variable
  • Compounds daily
  • Paid monthly

Requirements and Other Restrictions:

  • Minimum opening balance: $100.00
  • The minimum daily balance to avoid a monthly service fee is $300.00.

An interest-bearing savings account. Interest is driven by the account balance at tiered interest levels. Interest rates are subject to change every Friday. All deposits are kept in-house and are FDIC insured.

Features:

  • Low minimum opening balance
  • Unlimited deposits and in-person cash withdrawals
  • An additional activity fee may apply for each transaction over the legal limit of six.
  • Interest rate increases automatically as balance increases
  • Free Online Banking
  • FDIC insured

Interest:

  • Tiered
  • Variable
  • Compounds daily
  • Paid monthly

Requirements and Other Restrictions:

  • Minimum opening balance: $500.00
  • The minimum daily balance to avoid a monthly service fee is $1,000.00.

Starting savings account for minor children. Account converts to a Basic Savings account at age 18.

Features:

  • Unlimited deposits and cash withdrawals by custodian
  • At age 18, account converts to a Basic Savings account
  • No minimum balance
  • No monthly service charge – until age 18
  • Free Online Banking

FDIC insured Requirements and Other Restrictions:

  • Minimum opening balance: $20.00

A savings certificate entitling the bearer to receive interest. A CD bears a maturity date and a specified fixed interest rate.

Features:

  • Fixed interest rate
  • Renews automatically
  • Terms from 30 days to 59 months
  • Free Online Banking
  • FDIC insured

Interest:

  • Tiered
  • Fixed
  • Compounds daily

Requirements and Other Restrictions:

  • Minimum opening balance: $2,500.00
  • Minimum balance to earn interest: $2,500.00

A Certificate of Deposit Account Registry Service (CDARS).  The easiest and most convenient way to access FDIC insurance on large CD’s.

Features:

  • Everything is handled through Redwood Capital Bank.
  • A large deposit is divided into smaller amounts and placed with other participating CDARS Network banks. These banks issue CD’s in amounts under the standard FDIC insurance maximum insuring your investment with FDIC protection.
  • Earn one rate per maturity on your entire investment.
  • Receive one account statement listing all of your CD’s along with their issuing banks, maturity dates, interest earned and other details.

Requirements and Other Restrictions:

  • For specific information regarding CDARS, please speak with a New Accounts Representative:
    Eureka: (707) 444-9800 • Fortuna: (707) 725-4722 • Arcata: (707) 826-0878 or Henderson Center (707) 444-9888.

For further information, or current interest rates, please call or visit any of our four convenient locations.