Marlin CD FAQs
As an FDIC-insured institution, Marlin Business Bank® is here to help you build your wealth confidently and securely. Our bank holding company, Marlin Business Services Corp. (NASDAQ: MRLN) has been providing financial products to businesses nationwide since 1997.So look forward to tomorrow with confidence, knowing your money is safe while earning interest daily. We have significant experience and expertise in supporting the small business community, offering higher returns and a variety of terms. Our competitive rates for business and personal CDs can help you reach your savings and investment goals.
Will I be reminded of the maturity date on my CD?
Yes, you will be sent a notice prior to the maturity of your CD.
Manage CD Account
To manage your CD account, login here, under “Already have an account?”
Can I add money to my CD once it has been opened?
While you can’t add money to an existing CD, you can open additional CDs at any time.
Are there any fees to open or maintain an account?
No, Marlin Business Bank does not charge opening or maintenance fees. The only fee would be an early withdrawal penalty.
What are the interest disbursements for my Certificate of Deposit?
Interest on CDs is paid at the earlier of renewal, annually or at account closing.
Is there a penalty for early withdrawal?
As with any CD, there is a penalty for the withdrawal of principal prior to the maturity date. The penalty will be the greater of half the interest that would be earned for the term of the certificate of deposit on the amount withdrawn or seven days’ interest.
How is interest calculated on a Certificate of Deposit?
Interest on your CD is compounded daily. Interest will be paid by ACH credit to your checking account.
How do I submit my required documents?
Once you have completed your deposit account online, you have 60 calendar days to provide us with a few required documents before your account can be approved. You must deliver the required documents via: Fax (1-856-813-2879) Email: [email protected] Upload the documents as instructed during the application to complete the account opening processSee Full Answer
Why do I need to provide Equipment Proof of Location?
It’s a credit stipulation for us to verify that the equipment will be used where your place of business is located. We have to do this in order to extend credit to you.
How do I know when my CD is open?
You’ll receive an email with your Customer Number, which you will need to access your account, and the Account Number on the last page of the account opening process. Once we receive all required documentation from you and your account is funded, your CD will be officially opened.
What type of documents do I need to open a personal CD account?
To open a personal CD account, you’ll need to provide us with certain documentation: Government-issued identification Voided check with your name preprinted on the check to set up funding and interest payments
What type of documents do I need to open a business CD account?
To open a business CD Account, you’ll need to provide us with certain documentation: Corporate Resolution (if applicable) Business W-9 Form with tax ID number Voided check with the business name preprinted on the check to set up funding and interest payments