3 Great Reasons Why You Should Open a CD Account
Certificates of Deposit (CDs) can be a great addition to your savings strategy. CDs typically pay a higher interest rate than your traditional savings accounts, offer a fixed rate of return and the security of FDIC insurance.
Higher Interest Rates
CDs typically provide higher interest rates compared to a traditional savings account, allowing your savings to grow quicker.
Guaranteed returns
With a fixed interest rate for a set term, CDs offer guaranteed returns with little to no risk.
FDIC insured
Our CDs are insured by the FDIC for up to $250,000 per account holder.
Open a CD today – grow your savings with competitive, guaranteed rates!
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Frequently asked questions
What is a certificate of deposit?
A certificate of deposit (CD) is a type of savings account that pays a fixed interest rate on a lump sum of money for a specific period of time.
How do CDs work?
When you open a CD, you agree to leave the money in the account for a set term or period of time. Terms available at FNBA range from 6 months up to 10 years. In return for your commitment, you are paid a guaranteed interest rate for the entire term of the CD.
What is APY?
APY or Annual Percentage Yield is the interest rate earned on the account over the course of a year. It is the actual rate of return you can expect to earn on the funds in the account after taking into account the compounding element.
Still have questions?
Please visit our Frequently Asked Questions page for additional information.
You can also stop by or call one of our branches today and we would be happy to assist you.