CDís are time deposit accounts that have a set period of investment and a return depending on the rate at the time the initial deposit is made.
- A choice of maturity terms generally ranging from 6 to 60 months
- Competitive interest rates
- Interest is compounded quarterly
- Automatically renewed at current rates upon maturity to insure there is no loss of earnings
- FDIC insured
- $2000 minimum to open the account
Certificates carry penalties for early withdrawals.