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Certificates of Deposit, or CDs, are a great opportunity to earn higher dividends without the temptation to dip into your savings for other expenses.
When you open a CD, you deposit your money for a fixed term you select - anywhere from six months to five years. When the CD matures at the end of the term, you receive your initial deposit and the interest you have earned.
If you need access to your money before the end of the term, you may have to pay an early withdrawal penalty or forfeit some of the interest. This way, you have access to the money if you really need it, but there is less temptation to dip into your savings for impulsive purchases.
You can open a CD with as little as $500 (a 12-month term). You can also select any term ranging from 6 months to 60 months (5 years) with a $5,000 deposit, and we will offer you a competitive interest rate.
To find out more about the terms and interest rates offered for our CDs, Contact Us today.
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