Demand Certificates (TAP)
Our Demand Certificates offer a flexible, accessible investment option. Unlike other investments that limit access to your funds, our Demand Certificates give you easy access to add new investment dollars or redeem funds from your investment at any time without penalty.
Benefits and Features
- Easily accessible
- Redeem funds on demand*, no fees
- Invest additional money at any time
- $5-minimum investment to open
- Manage online through My Account
- Electronic transfer services to and from other financial institutions
- Variable interest rate
- Interest can be compounded or paid monthly
- Available to individuals, congregations, organizations, and children under 18 via a Uniform Transfer to Minors (UTMA) Custodial investment and participants in the BIC U.S. 403(b)(9) retirement plan.
*BICF may require up to Thirty (30) days’ written notice of any redemption.
| Investment Balance | Rate | APY** |
|---|---|---|
| $5.00 – $10,000 | 2.96% | 3.00% |
| $10,000.01 – $25,000 | 3.11% | 3.15% |
| $25,000.01 – $50,000 | 3.25% | 3.30% |
| $50,000.01 – $100,000 | 3.45% | 3.50% |
| $100,000.01 – $500,000 | 3.69% | 3.75% |
| $500,000.01+ | 3.98% | 4.05% |
| Ministry Demand Certificates | Reduced Interest Rates | Reduced APY |
Ministry Investments
Every investment in the BIC Foundation benefits ministry. However, upon request, you can designate a portion of or the entirety of your earned interest for the charity, non-profit, congregation, or organization of your choice. The forfeited or reduced interest is calculated twice a year.
For more information or to open a Ministry Investment account, contact Sean Kleckner.