Term Certificates (SIC)
Term Certificates (SIC) offer higher interest rates compared to our other investment options. These investments have a specified term, meaning that you are committing to invest the original principal balance for a set amount of time. You can choose investment terms from six months to five years; our options are listed below. Early redemption penalties apply.
Benefits and Features
- Invest for a set length of time, starting at 6 months
- Low, $25-minimum investment
- Higher return rates
- Variable interest rate
- Interest can be compounded or paid monthly
- Manage online through My Account
- Early redemption penalties
- Available to individuals, congregations, organizations, children under 18 via a Uniform Transfer to Minors (UTMA) Custodial investment, and participants in the BIC U.S. 403(b)(9) retirement plan.
| Minimum | Term | Rate | APY* | Penalty |
|---|---|---|---|---|
| $25 | 6 months | 3.49% | 3.55% | 90 Days of Interest |
| $25 | 1 year | 3.97% | 4.05% | 90 Days of Interest |
| $25 | 15 months | 5.12% | 5.25% | 182 Days of Interest |
| $25 | 2 years | 4.21% | 4.30% | 90 Days of Interest |
| $25 | 3 years | 4.45% | 4.55% | 90 Days of Interest |
| $25 | 4 years | 4.69% | 4.80% | 90 Days of Interest |
| $25 | 5 years | 4.93% | 5.05% | 90 Days of Interest |
| $25 | Youth Savings Certificate | 5.84% | 6.00% | 182 Days of Interest |
| $25 | Ministry Certificates | Reduced Rate | Reduced APY | Depends on Certificate type |
Ministry Certificates
Ministry Certificates are just like our standard Term Certificates (SICs) except that the owner chooses to take a reduced interest rate or donates the interest altogether for the benefit of a charity, non-profit, congregation, or organization. The forfeited or reduced interest is calculated twice a year and then donated to the entity of the investor’s choice. Contact Sean Kleckner for more information.