A CD is a type of savings account with a fixed interest rate and a fixed date of withdrawal, known as a maturity date. Certificates of Deposit usually offer higher interest rates compared to regular savings accounts, but the money deposited must remain in the account for the entire term to avoid penalties.
*APY - Annual Percentage Yields are effective as of December 20, 2024. At maturity, the 10 month CD will automatically renew as a 12 month CD. At maturity, the 20 month CD will automatically renew as a 24 month CD. The 30 month CD will automatically renew as a 30 month CD. Stated APY assumes interest remains on deposit until CD maturity. A minimum $1,000 deposit is required to open this account. Fees may reduce earnings. Subject to penalty for early withdrawal. The advertised APY is subject to change without notice. Limited time offer.
The calculators are for informational purposes only and not intended to provide financial advice. All examples are hypothetical and for illustrative purposes. Content was obtained from sources deemed to be reliable. F&M Bank and its affiliates are not responsible for any content provided by unaffiliated third parties. Please contact F&M Bank for specific details.
New to this savings strategy? A ladder lets you spread your investment over CDs of different terms and maturity dates. How do you build it? Let’s say you have $10,000 to invest. Just to keep things simple, you could split that amount into two $5,000 CDs of different term lengths and rates. Or make four $2,500 investments in CDs of varying lengths, like two in short-term CDs and two with longer terms. When the short-term certificates of deposit mature, you reinvest the original amount (plus interest earned) in a longer term certificate. Simply repeat that strategy each time a CD matures, moving up the ladder and multiplying yields as you go.
Use this CD calculator to estimate your return based on the size of your deposit and the rate and term you choose to lock in. Remember, the higher your balance the higher your return.
We have the perfect solution – the Certificate of Deposit Account Registry Service® (CDARS). This innovative investment solution offers the convenience and high rate of CDs with the security of full FDIC insurance up to $50 million. Using CDARS, we’ll break up your investment into smaller increments and distribute each portion among multiple financial institutions to ensure complete FDIC coverage. You’ll only have to work with us – one rate, one bank, one relationship.
Just set it and forget it – for higher than average savings.
Get a safe, secure investment and a solid return.
Choose from a wide range of terms – 91 days to 60 months.
Withdraw your earnings upon maturity or let them roll over.
