Certificates of Deposit
If you have at least $1,000 to invest, a Certificate of Deposit (CD) pays a higher interest rate than other deposit accounts. You'll earn guaranteed returns over a specific period of time - no matter what happens in the financial markets. Upon maturity, you may choose to automatically renew your certificate at a new rate, add to the balance, change the term or withdraw the funds.
Terms from 3 months to 5 years. Interest earned may be withdrawn at any time, transferred to another account or mailed directly to you. Renewal notice mailed 30-45 days prior to CD maturity.
Every 7 days you can make deposits, make withdrawals or simply let it roll over for another 7 days at a variable rate.
Minimum daily balance to earn the annual percentage yield (APY) is $0.01. Substantial penalty for early withdrawal.