Skip to main content

Personal Banking Certificate of Deposit

Certificate of Deposit

What is a Certificate of Deposit?

A Certificate of Deposit, or CD, is a time deposit account that has a set period of investment and a return depending on the rate at the time the initial deposit is made.

  • A choice of maturity terms generally ranging from 6 to 60 months
  • Competitive interest rates
  • Interest is compounded quarterly
  • Automatically renewed at current rates upon maturity to insure there is no loss of earnings
  • FDIC insured
  • $2,000 minimum deposit to open the account

CDs may carry penalties for early withdrawals.

 

Reach for your dreams and save up for college with our Student Center CD!

Our Student Center CD is a time deposit account that has a set period of investment and a return depending on the rate at the time the initial deposit is made.

  • Additional deposits can be made at any time
  • Parents, Grandparents, and Students can contribute to the Student Center CD
  • The Interest Rate is fixed for a two-year term
  • Interest is compounded quarterly
  • $100.00 minimum to open account

Save for a financially secure retirement with an IRA CD!

At The Bank of New Glarus, we offer a variety of retirement products including Traditional IRAs, Roth IRAs, and CESA. IRAs offered through the Bank are time deposit accounts with a set period of investment and a return depending on the rate at the time the initial deposit is made.

  • Contributions may be tax deductible*
  • Earnings grow tax deferred
  • Interest remains the same throughout the term of the certificate
  • Interest is compounded quarterly
  • $100 initial deposit to open an Add-On IRA
  • $2,000 initial deposit to open any other type of IRA CD

*Check with your tax advisor to see if you qualify for the tax benefit