Terms of CD and IRA Accounts


We offer a variety of Certificates of Deposit terms, ranging from one month to five years. You can open a CD for a minimum of $1,000 (IRA CDs can be opened for a minimum of $100), and the CD can be set up to renew automatically. This flexibility allows you to choose a maturity date that will best meet your needs.

Frequency of Compounding and Crediting of Interest: Interest will be compounded daily and credited to your account quarterly or, if applicable, according to the payment plan you select.
Method Used to Calculate Interest: Ameris Bank uses the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal balance in the account each day.

Basis Days: Interest will be based on 365 days.

When Interest Begins to Accrue on Noncash Deposits: Interest begins to accrue no later than the business day the deposit of noncash items (e.g., checks) is received.

Transaction Limitations - Withdrawals: You may not withdraw principal prior to maturity without penalty; however, you may withdraw interest that has been credited to your account without penalty. The Annual Percentage Yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings. If you close your account before interest is credited, you will not receive the accrued interest.

Transaction Limitations – Additional Deposits: You may deposit additional funds to your account only if you have an IRA, CD, or a Coverdell Education Savings Account. You may not deposit additional funds to any other type of CD, and the renewal interest rate and terms will apply only to funds on deposit in the account at the time of renewal. Note: This may reflect a change to the prior terms of your account.

Early Withdrawal Penalties: The penalty below will be imposed if you withdraw any of the principal prior to the maturity date. This penalty may be waived if the withdrawal occurs because of death or incapacity of the owner. If the account is an IRA CD, you should review your IRA plan disclosures for other terms. The fee will be deducted from interest payable on the amount withdrawn, whether earned or not.

CD Terms and Penalty Amount:

Individual Retirement Accounts (IRAs) are subject to limitations and/or penalties imposed by the Internal Revenue Service. Please see your IRA Agreement or your tax advisor for additional information.

Renewal Policy: Your account will automatically renew at maturity. You will have a grace period of ten calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty.

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