What is a Certificate of Deposit (CD)?
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What is a Certificate of Deposit (CD)?
A Certificate of Deposit (CD) is a type of savings account that earns interest on a fixed amount of money for a specified length of time, such as 7 months, one year or five years.
When you open a CD, you lock in a term of duration and interest rate. If you leave your money untouched for the entire duration, you’ll get back your initial deposit plus any interest gained.
CDs tend to offer higher rates than regular savings accounts, but don’t allow access to your money until the term ends. CDs are also considered a low-risk investment, offering lower opportunity for growth than stocks and bonds, but with a guaranteed rate of return.
Now is the time to open a CD at Peoples Bank!
- Lock in a fixed CD rate, regardless of changes in the market
- Flexible term options
- Your money is FDIC Insured up to $250,000
- Convenient account management
- No monthly maintenance fee
CD Special
Take advantage of the 7-month CD special happening now – October 20. Apply in person at your nearest Peoples Bank branch.
CD Special Disclosures:
*Annual Percentage Yields (APY) accurate as of 09.08.2023. Minimum to open an account is $1,000. Limited time offer. Rates and offer dates subject to change without notice and offer may be withdrawn at anytime. Fees may reduce earnings on the account. A penalty will be imposed for early withdrawal.
