If you’re looking for a higher rate of interest and don’t need immediate access to your funds, invest in an FDIC insured Certificate of Deposit. Choose from a variety of rates and terms from 91 days to 5 years. Interest can be compounded, paid by mail, or deposited to your checking or savings account.
Available on a single maturity or in automatically renewable periods from 91 days to 5 years
Interest compounded monthly (except on CDs $7,500 or less, interest compounds every six months and on 3 month CDs, which pay at maturity)
Penalty for early withdrawal
Ten-day grace period at maturity to close or modify the terms of the Certificate of Deposit