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Certificates of Deposit (CDs) allow you to choose a set period of time to earn a guaranteed fixed interest rate. Whether you are saving for tomorrow, college tuition, or retirement, CDs are a convenient way to plan for long-term savings.
3.25% APY†
2.50% APY†
2.25% APY†
2.00% APY†
1.75% APY†
There is a lot to consider when deciding whether a Certificate of Deposit (CD) is the right savings option for you. Here are a few key points to keep in mind.
While typical savings accounts allow you to deposit and withdraw money, CDs require that you deposit a fixed amount of money at the time you open the account. You generally cannot make deposits after that time.
Although you may select the period of time that you would like for your CD to mature, such as six months, one year, or five years, you are then locked into that time commitment. If you need to withdraw funds before that time period ends, you may have to pay a penalty fee.
Since you know the amount of money in the account, the interest rate, and the period of time that your funds will remain in the CD, you may predict the amount of interest you will earn without being subject to much risk.
There is a lot to consider when deciding whether a Certificate of Deposit (CD) is the right savings option for you. Learn more about the benefits, potential risks, and the decision-making process for opening a CD to decide if this option is right for you.
† DISCLOSURES:
Annual Percentage Yield (APY) is subject to change at any time without notice at the bank’s discretion. Rates are effective as of 1.12.2025. CDs require a $2,500 minimum deposit of new funds to open the account and obtain the APY. New funds are not funds currently on deposit at Firstrust Bank or through Firstrust Financial Resources. $500,000 maximum deposit. All other terms and conditions of the Bank's CDs, including compounding of interest, are available in the Bank's current Truth in Savings Disclosure. Eligible for Regular CDs and Traditional, Roth and SEP IRAs. There is a penalty for early withdrawal. Fees may reduce earnings on the account. Additional federal penalties may apply for IRA CD withdrawals below age 59 1/2. (Please consult your tax advisor.) There is a seven calendar day grace period at maturity.
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