Frequently Asked Questions
Interest rates on Certificates of Deposit vary and are based on the term of the certificate and on the opening balance of the certificate. Click here to view current rates.
A Certificate of Deposit (CD) is a savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate and can be issued in any denomination. When you open a CD, your money is on deposit for a specific time period. For agreeing to keep it on deposit for a specified time period, you earn more than you would in a regular savings account. If funds are withdrawn or the account is closed prior to its’ maturity date, a penalty may be incurred. Click here for disclosure.