A certificate of deposit (CD) allows you to earn higher interest rates for depositing your money for a specific period of time. These FDIC insured, interest-bearing accounts can help you earn a higher fixed interest rate than you might with a traditional savings accounts. At Scottsdale Community Bank , you can receive:
- Terms from 7 days to 5 years
- Interest rates tiered based on amount and term of Certificate of Deposit
- Interest rate fixed for term of Certificate of Deposit. Simple interest paid at maturity. Client may choose to have interest paid monthly, quarterly, semi-annually or annually
- Interest paid monthly, quarterly, or at maturity
- Interest paid by adding back to CD, deposit, or by check
- Renews automatically
- $1,000 minimum deposit to open
- Certificates of Deposit automatically renewed unless otherwise requested
- There is a penalty for early withdrawal.