Certificates of Deposit (CDs) are a well-established, safe method of receiving a higher rate of interest on money you do not need in the near future.
- Minimum amount to open: $500
- Term options: 7 days to 60 months
- Interest compounded and paid monthly, quarterly, semiannually or annually
- Early withdrawal penalty: terms of six months or less—31 days' interest; terms greater than six months but less than one year—91 days' interest; terms of one year or greater—182 days' interest
- Free Online Banking and Mobile Banking