PROVIDENCE CERTIFICATES OF DEPOSIT
For customers who value investing at a higher fixed rate of interest for a fixed term, Providence Bank Certificates of Deposit (CD) provide these advantages:

• Higher interest rate
• FDIC insured
• Terms from three months to five years*
• $2,500 minimum deposit for CDs with terms of three or six months
• $1,000 minimum deposit for CDs with terms of one year or longer
• Interest is compounded and can be transferred to your checking
  or savings account
• CDs automatically renew at maturity for the same term but at
  the interest rate offered for that term on the day of renewal

* A substantial penalty applies for early withdrawal.

CDARS
Providence Bank is a member of CDARS® – a valuable cash management or longer-term investment tool for our customers.

What is CDARS?
CDARS is the Certificate of Deposit Account Registry Service®. With it you can enjoy full FDIC insurance protection on CD deposit amounts greater than $250,000 and up to $50 million.

How does CDARS work?
It’s as simple as 1, 2, 3…

1. Based on our CD options available, you select an interest rate and maturity that best matches your investment goals and sign a Deposit Placement Agreement with us.
2. Providence Bank then places your funds into CDs issued by other banks that are members of a special network – in increments of less than $250,000 – so that both principal and interest are eligible for complete FDIC protection. As a result, you can receive coverage from many banks while working with just one – Providence Bank.
3. You earn one interest rate and receive one statement and one year-end tax form.

PROVIDENCE IRA CERTIFICATES OF DEPOSIT
For customers who value easy investing for retirement, Providence Bank IRA Certificates of Deposit provide these advantages:

• Higher interest rate
• FDIC insured
• Terms up to five years*
• IRA CDs allows additions during the term
• $1,000 minimum deposit
• Compounded interest paid quarterly
• CDs automatically renew at maturity for the same term but at
  the interest rate offered for that term on the day of renewal

* A substantial penalty applies for early withdrawal.