CD Accounts

With some of the most competitive rates around, our CD accounts are perfect for setting funds aside for a short-term goal or planning for the future.

A Smarter Way to Save for Life's Next Chapter

Every stage of life comes with different financial goals, some planned, some unexpected. Whether you are saving up for a down payment on a house or saving for your retirement, Shoreham Bank's Certificates of Deposit accounts are designed to help you save with confidence, earn more, and keep your money safe as you move through life's journey. Accounts can be opened at any branch location. Visit one of our locations or call us today for details, (401) 732-1991.

 
 
 

Our Accounts

9 Month CD

4.25%

APY1

4.16 Interest Rate
$1,000 to earn APY
$1,000 Minimum Opening Deposit

3 Month CD

3.90%

APY2

3.84 Interest Rate
$1,000 to earn APY
$1,000 Minimum Opening Deposit

5 Year CD

3.50%

APY2

3.44 Interest Rate
No minimum balance to earn APY
$1,000 Minimum Opening Deposit 

4 Year CD

3.25%

APY2

3.20 Interest Rate
No minimum balance to earn APY
$1,000 Minimum Opening Deposit 

3 Year CD

3.00%

APY2

2.96 Interest Rate
No minimum balance to earn APY
$1,000 Minimum Opening Deposit

2 Year CD

2.75%

APY2

2.71 Interest Rate
No minimum balance to earn APY
$1,000 Minimum Opening Deposit 

1 Year CD

2.00%

APY2

1.98 Interest Rate
No minimum balance to earn APY
$1,000 Minimum Opening Deposit 








Why Open a Shoreham Bank CD Account?

We are small community bank that is not just here for transactions, we truly care about the relationships we build with our customers.  

  • Competitive Rates

  • Personalized service you can rely on

  • Simple, Transparent Terms 

 

Take the next steps in your financial journey.

Opening a CD account with Shoreham Bank means exploring your options and choosing solutions for where you are now and where you are heading! 
  • Visit one of our branch locations
  • Reach out to our trusted team with your questions 
  • Start funding your long-term plans 
We believe financial conversations should feel comfortable and obligation-free, whenever you're ready.
 
 

Frequently Asked Questions about CD Accounts

 
What is a Certificate of Deposit (CD)? 
A CD is a savings option that lets you lock in a fixed interest rate for a set period of time. You must keep your funds deposited until the end of the term. In return, you receive a guaranteed return, which results in your money growing. 
 
What happens if I need my money before the CD matures? 
Early withdrawals are possible with our CD accounts, but fees and penalties will be applied at the time of withdrawal. CDs work best for funds you do not expect to need right away. 
 
What is the difference between APY and APR?
APY tells you how much your deposits can earn over a year, including the effect of compounding interest not just the base rate. APR (Annual Percentage Rate) is typically used for loans and credit and represents the cost of borrowing. It does not include compounding interest. 
 
What happens when my CD matures? 
You will receive a reminder in the mail one month prior to your CD maturing so you can decide whether to renew, withdraw, or move funds elsewhere.
 
 
 
 
 
 

 

 
1. Annual Percentage Yield (APY) is effective as of 8/31/26 and subject to change without notice. Minimum daily balance of $1,000 is required during each monthly cycle period to earn interest. At Maturity, the account will automatically renew for a 1-year term. You will have a grace period of 10 calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty. Fees could reduce earnings. Penalty for early withdrawal.
2. Annual Percentage Yield (APY) is effective as of 8/31/26 and subject to change without notice. $1,000 minimum daily balance is required during each monthly cycle period to earn interest. Fees could reduce earnings. Penalty for early withdrawal. Account type is only available in-branch.