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In addition to the CD options below, we also offer CDARS® for customers looking to invest large sums of money – with FDIC insurance eligibility.
1 On regular Certificates of Deposit and Jump-Up CDs: Automatically renews at maturity for the same term at the prevailing rate, unless we notify you otherwise. Early withdrawal penalties may apply. No withdrawal penalty during 10-day grace period following maturity. For regular Certificates of Deposit no interest is paid on balances below $500 minimum for regular Certificates of Deposit.
2 You are limited from making a deposit more often than every seven days, and not during the first or last seven days of the CD term.
3 Excess withdrawal fees for Alaska CDs: More than one debit per quarter is $100 each. Total withdrawals in a calendar quarter exceeding $500,000 is $100 per quarter. Withdrawal before end of quarter may result in loss of accrued interest. Maximum investment $5 million per customer.
Refer to Northrim's Business Fee Schedule for more details on other service fees.
Looking for a way to keep large deposits safe? Ask us about CDARS.
If you're looking to invest large sums of money – with FDIC insurance eligibility – the Certificate of Deposit Account Registry Service, or CDARS, may be the perfect solution for you.
With CDARS, you can access FDIC protection on multimillion-dollar investments, while earning returns. CDARS can be a valuable cash management or longer-term investment tool for you. 1This is a great solution for businesses, nonprofit organizations, public unions and IRAs.
Benefits of CDARS include:
Your money can access multimillion dollar FDIC insurance coverage
Your money earns CD returns, which may compare favorably with other investment alternatives, including Treasuries, corporate sweep accounts and money market funds.
You work directly with Northrim. You earn one interest rate per maturity, and receive one regular statement and one year-end tax form.
The full value of your money can support lending opportunities in your local community.2
Ask us about how CDARS can work for you the next time you visit one of our branches, or contact us for more information.
1 Limits apply. Funds may be submitted for placement only after a depositor enters into the CDARS Deposit Placement Agreement with Northrim Bank. The agreement contains important information and conditions regarding the placement of funds by us.
2 This benefit applies to some, but not all types of CDARS transactions. Let us know if this benefit is important to you, so that we can explain the relevant terms and conditions in more detail. CDARS is a registered service mark of Promontory Interfinancial Network, LLC.
"From times of cash flow challenges to needing funds for expansion, Northrim has gathered a group of people to 'make it happen' in an expedient way."
Advanced Physical Therapy
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Dr. Krislyn DeLeon
Mt. McKinley Animal Hospital
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Huna Totem Corporation
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Extreme Fun Center
Call Us: (907) 562-0062 or 1-800-478-2265
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