Savings

There are many reasons to save money (a new home, a college education, or a long vacation). Whatever the reason, Central Pacific Bank offers a savings account with your goals in mind. Our accounts are insured by the FDIC for up to $250,000* per depositor.

*Note: On October 3, 2008, FDIC deposit insurance temporarily increased from $100,000 to $250,000 per depositor through December 31, 2013.

Enjoy the convenience of a Central Pacific Bank savings account which includes:

• Free INFOLINE Telephone Access
• Free Online Banking access
• Free ATM card

Select All

	Super Savings Earn higher rates like a CD while getting the flexibility of a savings account. To qualify, just make a minimum of one deposit of $25 or more each month. And if no withdrawals are made during the month, you're rewarded with a heroic rate. Bonus interest rates when you make one deposit of $25 or more and no withdrawals Interest is compounded daily and paid monthly $100 minimum opening deposit $200 minimum balance requirement $5 monthly service fee if the minimum balance is not maintained $40 early closing fee if the account is closed within the first 180 days from account opening Tier Annual Percentage Yield (APY) Minimum Balance to Open Minimum Balance to Obtain APY Compound/ Interest Paid $0 - $9,999.99 0.85% $100 $1 Daily/Monthly $10,000-$24,999.99 0.85% $100 $10,000 Daily/Monthly $25,000-$99,999.99 0.85% $100 $25,000 Daily/Monthly $100,000 and over 1.00% $100 $100,000 Daily/Monthly . 0.05% $100 $1 Daily/Monthly Current rates of 0.85% APY will be paid on account balances when the required transactions are met during the calendar month. Accounts that do not meet the required transactions during the calendar month will earn 0.05% APY. Fees may reduce earnings. Interest rate and annual percentage yield subject to change on a daily basis.	Details Apply
	Exceptional Savings Now there’s a product as exceptional as you are. The Exceptional Savings offers maximum interest, maximum liquidity and valuable benefits when you maintain a minimum combined balance of $10,000 in Central Pacific Bank deposit and loan accounts. Click here for more information about our Exceptional Plan.	Details
	Personal Savings This account offers you a safe and convenient way to save money. With a low minimum balance requirement and ATM access, you’ll have the basic tools to reach your savings goals. Interest is compounded daily and paid quarterly $100 minimum opening deposit $200 minimum balance requirement $3 monthly service fee if the minimum balance is not maintained Annual Percentage Yield (APY) Minimum Balance to Open Minimum Balance to Obtain APY Compound/ Interest Paid 0.15% $100 $1 Daily/Quarterly Fees may reduce earnings. Interest rate and annual percentage yield subject to change on a daily basis.	Details Apply
	Starter Savings For children (newborn to 17 years old) this account requires a low minimum balance of $25 and provides a way to learn about money and the value of saving. The account automatically converts to a Personal Savings account on child's 18th birthday. Interest is compounded daily and paid quarterly $10 minimum opening deposit $25 minimum balance requirement $2 monthly service fee if the minimum balance is not maintained Annual Percentage Yield (APY) Minimum Balance to Open Minimum Balance to Obtain APY Compound/ Interest Paid 0.15% $10 $1 Daily/Quarterly Fees may reduce earnings. Interest rate and annual percentage yield subject to change on a daily basis.	Details

Select All

Time Certificates (CDs) and IRAs

When you need the highest, guaranteed return on your money, consider these safe alternatives ...

• Certificates of Deposit
  A savings account with a maturity of at least seven (7) days. Offers a higher rate of interest than a regular savings account, but imposes a penalty for withdrawals made before maturity.
  
  For our current certificate of deposit rates, click here.

 

• IRAs (Individual Retirement Accounts)
  A special type of savings account used to save money for retirement subject to special IRS tax laws. Offers a safe alternative to save money for retirement.
  
  For our current IRA rates, click here.
  
  

• Get More Financial Freedom With a Roth IRA.
  • Tax-Free Earnings
  • Tax-Free Withdrawals
  • No Mandatory Withdrawals. You can continue to earn tax-free income because you are never required to take a distribution from a Roth IRA, even if you are over age 70½.
  • First Home Purchase Withdrawal. You can withdraw up to $10,000 from your account Federal tax-free and IRS penalty-free for the purchase of a first home (account must be open for at least 5 years).

If you considered IRAs too restrictive, look at the new Roth IRA. It's eligible to more people, allows couples to contribute more, grants you greater flexibility with withdrawals and offers better tax benefits. You can even convert your existing IRA to a Roth IRA (consult with your tax advisor). For more information about this and other retirement options, visit any Central Pacific Bank branch or call 544-0500.