Certificate of Deposit (CD)

CD

CD's are interest earning accounts where funds are deposited for a specific period of time to earn a determined rate of interest.

  • Different terms
  • Earns higher rate of interest than regular savings account
  • Interest compounds
  • Fixed rate of interest
  • Paid interest may be withdrawn with no penalty
  • CD can be used as collateral on a loan
  • FDIC insured
  • Penalty for early withdrawal
  • Liquid assets
  • Multiple ownership
  • Payable on death
  • Change of registration/ownership

Minimum opening deposit which varies depending on the term of the CD. Minimum opening deposits are subject to change along with the interest rates. Currently, any term less than 12 months has a minimum deposit of $5,000 and any CD greater than 12 months is $2,500.

Term Minimum APY* Interest Rate
91 Day $5000 0.22% 0.22%
6 Mo. $5000 0.28% 0.28%
9 Mo. $5000 0.31% 0.31%
1 Yr. $5000 0.41% 0.41%
2 Yr. $2500 0.51% 0.51%
3 Yr. $2500 0.61% 0.61%
4 Yr. $2500 0.81% 0.81%
5 Yr. $2500 0.95% 0.95%

*APY = Annual Percentage Yield. Rates & APY are variable and may change daily.  Fees may reduce earnings.