• Personal Banking
  • Commercial Banking

Commercial CD's

With FirstBank's Certificates of Deposit, you will be making a safe investment that earns interest and at the same time may serve as collateral for a commercial loan.

  • Fixed rate CD’s are available ranging from thirty days to three years.*
  • Interest rate varies according to the term and amount selected and is renewed automatically at maturity.
  • Receive interest earned on your CD by check, have the interest credited to another FirstBank account, or add the interest earned to the CD balance.
  • Access account information through eFirstBank.
  • Your money will be FDIC insured in accordance with the Federal Deposit Insurance Corporation's rules, laws, and regulations on insurance coverage (member FDIC in the USVI and Puerto Rico only).
  • Minimum opening deposit is $2,500.00.

Application Procedure:

  • Accounts may be opened at any FirstBank Branch Location. A copy of the current business' license and EIN/TIN number and two valid forms of ID are required.
  • Completed CD account form and a W-8 or W-9.
  • The following documents may also be required: Trade Name Certificate or application receipt (Sole Proprietorship or Partnership), Partnership Agreement and Partnership Certificate (Partnership), Articles of Incorporation, Certificate of Incorporation and Corporate Resolutions (Corporation).
  • Other requirements may be needed for other business structures, estate or bankruptcy accounts, or Public Fund Entities.
  • See Business Account Checklist for all other account opening requirements.


Related Products:

*Terms and Conditions:

  • Early Withdrawal Penalties: Withdrawals before maturity from a CD must be approved by the bank, and are subject to the following penalties:

    • Withdrawal on original tenors up to 365 days: Penalty is forfeiture of 90 days of interest or all accrued interest, whichever is less.
    • Withdrawal on original tenors after one year: Penalty is forfeiture of 180 days of interest or all accrued interest, whichever is less.

    • NOTE: The bank may deduct the penalty amount from principal, if necessary.

    * FirstBank reserves the right to negotiate minimum opening deposit amounts and the terms at account opening.

    Contacts:

    Visit any one of our branch locations or call our FirstLine Telebanking at (340) 775-8899 in the USVI, (284) 495-8899 in the BVI, or toll free at 1-866-695-2511.