Certificate of Deposit
We’ve Got A Certificate of Deposit That’s Right For You
What is a Certificate of Deposit?
Also called a “CD”, these are a time deposit that differs from a Savings account in that a CD has a specific, fixed term and usually a fixed interest rate. If withdrawn early, you incur a penalty. CDs are an investment that guarantees that your savings will keep on growing.
Your investment is safe because Mercer County State Bank CDs are backed by the Federal Deposit Insurance Corporation up to at least $250,000 for each depositor. Whether you want a low-risk way to diversify your portfolio, save for retirement or have a time-specific savings need, CDs are a great choice to accomplish your financial goals. You determine the amount of money you want to put in your CD and the term of the CD. In general, you earn a higher interest rate when you choose a CD with a longer term.
Curious how FDIC insurance works? Take a look at the video to learn more!
Questions?
Visit, call or email one of our community offices and they will be glad to explain CDs and help you open the best account for your needs.
