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Certificates of Deposit (CD)

Certificate of Deposit (CD)

Certificates of Deposit (CDs) allow you to lock in a fixed rate of interest for a specific period of time (term). You are not permitted access to your funds until the maturity date.

  • Only $1,000 minimum to open
  • Lock in a fixed interest rate with terms from 90 days to 5 years
  • Interest can be compounded quarterly and added back to the CD or interest can be paid monthly or quarterly by check or automatic deposit into other Preferred Bank accounts
  • Substantial penalty for early withdrawal of principal prior to maturity

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