Certificate of Deposits (CDs)
Use a Certificate of Deposit to maximize your savings for a fixed period of time.
Account Details
Minimum Opening Deposit
$1,000
Interest Paid
Fixed interest rate, compounded daily[cite::1::cite] [cite::16::cite]
Monthly Maintenance Fee
There are no monthly service charges for Certificates of Deposit. There is an annual maintenance fee of $15 per plan holder for IRA Certificates of Deposit.[cite::17::cite]
Withdrawals
Early withdrawal/closure penalties may be assessed when principal is withdrawn from a CD prior to the maturity date. Early withdrawal penalty applies to withdrawal of funds before maturity, regardless of whether you are eligible to begin receiving plan disbursements.
Account Features & Benefits
The following services are included every month:
- Deposits are insured by the FDIC to at least $250,000
- Choose a flexible savings term between 28 days and 5 years[cite::15::cite]
- Earn a competitive interest rate on money you don’t need to access right away
- Save for retirement by opening an IRA Certificate of Deposit[cite::17::cite]