What is a Treasury Index CD?
Amboy’s Treasury Index 2 Year CD offers a higher rate of interest for a guaranteed period of time. In addition, with Amboy's Index CD, you can make additional deposits to fund the CD during the first 30 days from your current bank account using our Bank to Bank transfer capability. Deposits are made by logging into your Amboy Direct account and initiating a transfer.
- Pays a variable interest rate indexed to the 3 Month Treasury rate for a guaranteed period of time.
- Allows additional deposits to fund the CD during first 30 days - up to $500,000 - via account transfer.
- Maintains a link between your current checking account and eSavings Index CD account.
- Guarantees your balances with FDIC Insurance.
- Open online with just $100 to start.
Opening a Treasury Index 2 Year CD
An Treasury Index 2 Year CD account can be opened online using the account application and the appropriate Offer Code.
You will be requested to provide personal information as part of the application. Here are a few items to consider when applying:
- You must be at least 18 years old, a U.S. citizen and have a valid social security number.
- Minimum initial deposit is $100. You can add to your account balance to fund the CD during the first thirty days but cannot take out funds until maturity without penalty.
- Accounts are opened online with an initial deposit from your personal checking account at another bank.
- After you submit your application, Amboy Direct will send two small deposits to your personal checking account that must be verified. To verify, review your transaction history at the bank where your checking account resides and identify the two deposits. Your initial login to Amboy Direct will require you to enter the amounts before you can access your account. These deposits are free and are sent as a fraud protection measure.
- You should validate the 2 small deposits in your linked account no later than 50 days from the date the first deposit was made.
- Transfer capabilities to your eSavings account will be available after "verification process" is complete.
Using Your Amboy Direct Accounts - General
Amboy Direct makes banking easy while earning more on your savings balances. You have access to your funds 24/7 by logging into www.amboydirect.com. Here are some features:
- Account information can be accessed 24/7 by logging into www.amboydirect.com.
- Your Amboy Direct account is automatically linked to the checking account used to open the account allowing you to make deposits during first 30 days.
- To make a deposit to your eSavings Index CD account, you must log into your account and initiate a transfer by selecting the amount and date.
- Deposits made to your account will begin to accrue interest 1 business day after the deposit is made. Every day is a business day, except Saturdays, Sundays and Federal Holidays.
- There are no charges for deposit transfers to your account.
- Quarterly statements are sent electronically and secured with your personal password.
- Amboy Direct Service Consultants are available by phone 8:30 - 7:00 Mon. - Thurs, 8:30 - 5:00 Fri., 9:00 - 1:00 Sat. EST.
- Wire transfers, mail in deposits and issues of bank checks are not available with this account.
- The balance limit is $500,000 per household.
- A zero balance in your account will result in immediate closure. As a result, any accrued interest in your account will be forfeited.
- Simple interest is paid and is credited to your linked Amboy eSavings account quarterly and at maturity. Interest begins to accrue no later than the business day we receive credit for any non-cash item (for example checks).
- Early Withdrawal Penalty. In the event of an early withdrawal, your account will be converted to an eSavings account and be subject to an interest penalty. The early withdrawal penalty could result in partial loss of principal. The early withdrawal penalty will be 6 months loss of interest at the rate and balance at the time of withdrawal.
This account will automatically renew at maturity. You will receive an electronic notification 30 days prior to your account maturing. Just give us a call if you do not wish to renew.