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CDVantage Terms and Conditions

Your Single Source for Certificates of Deposit

The CDVantage product is built for CD investors -- providing an efficient and secure way to purchase and manage an entire portfolio of Federally-Insured Certificates of Deposit. Purchase CDs from multiple issuers nationwide, manage and receive all reports in one secure online platform.

Multiple Banks. One Account For Nationally-Sourced CD Investments    |  For questions: Click below to Live Chat with a banker

Anthem Bank Home | CDVantage | About CDVantage | Terms + Conditions

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Terms and Conditions

For CDVantage from Anthem Bank & Trust

General

The Certificates of Deposit (CDs) are made available through Anthem Bank & Trust (ABT). Each CD is a deposit obligation of a financial institution (the "Issuer"), the deposits of which are insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Association (NCUA) within the applicable limits allowed by law. The CDs are deposit obligations of the Issuer and are not obligations of ABT, the custodian institution.

FDIC Insurance

Certificates of Deposit held by ABT for your benefit shall be federally insured to the same extent as if the CD were purchased by you directly from the issuing financial institution. (see FDIC website) ABT titles CDs so that pass-through of FDIC/NCUA insurance is assured and maintains the ownership records of the individual participants.

Your CDs will be covered by federal deposit insurance provided by the Deposit Insurance Fund (DIF), or the National Credit Union Share Insurance Fund (NCUSIF) in each case administered by the FDIC or the NCUA. Since your CDs will be aggregated with your other accounts or deposits, if any, at the Issuer, you should monitor the total amount of such accounts or deposits at said institution in order for you to determine the extent of insurance coverage available to you on such accounts or deposits, including CDs. (see FDIC insurance calculator)  The FDIC prepared a fact list, Depositor Bill of Rights which you may find helpful.

Custody of Certificates

Your CDs will be safe kept and serviced by ABT. This includes providing confirmations and monthly statements, remitting interest payments, and other duties associated with servicing your account.

The CDs will not be evidenced by individual physical certificates. Upon payment of your purchase, ABT will send you a Custodial Receipt evidencing your ownership interest and the terms relating to the CD purchased.

Fees

ABT negotiates with depository institutions or registered broker/dealers and utilizes its purchasing power to acquire CDs at attractive rates. ABT may retain a sales concession from the Issuer. ABT provides an inventory of CDs to their CDVantage customers. The rates paid to you may be lower than the rates acquired and this differential represents compensation to ABT. There are no separate fees to you and therefore, the rate quoted will be your net rate. You should compare the terms, rates of return, and required minimums of the offerings through CDVantage with other available investments before deciding to purchase a CD.

Withdrawals

CDs are investments intended to be held to maturity. As such, and because your CD is part of a large block at the depository institution, early withdrawals are subject to the following:

  • No partial withdrawals are permitted from a customer CDVantage CD.
  • Anthem Bank & Trust does not guarantee a secondary market for the CDs.
  • Any secondary market transactions are expected to be executed at prices which reflect current interest rates and other general market conditions. Therefore, secondary market transactions may be executed at prices greater or less than the principal amount invested.
  • There are no pre-determined fixed early withdrawal penalties, any secondary transactions are executed at current market rates, which may be at prices greater or less than the principal amount invested.
  • Due to the foregoing, you should not rely on the possible existence of a secondary market for any benefits, including achieving trading profits, limiting trading or other losses, realizing income prior to maturity or liquidations prior to maturity.
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