Not all CDs are Created Equal
Written by Sue Carnahan
What is a CD?
CDs or Certificates of Deposit are a great way to save large sums of money for a designated period of time and are considered one of the safest ways to invest your money. If you choose to deposit money into a CD, it will stay there to ‘mature’ and earn interest.
CDs require a minimum deposit, and the interest rate will vary based on that amount and the length of time the money is invested. When you decide to purchase a CD, you are agreeing to keep your money invested in the bank for a certain number of months/years at a fixed or variable interest rate. At the end of that term, you will get back the initial investment plus the amount of interest you incurred over your selected time frame.
Your CD account with Lincoln Savings Bank is FDIC-insured which makes it a safe and easy way to invest so you can remain worry-free while it earns interest.
Benefits of a CD
- Choose certificate terms ranging from three months to five years
- Earn interest at higher rates than those offered by most traditional savings accounts
- Option to automatically renew your CD at maturity
- Deposits insured by FDIC
Keep in mind that not all CDs are created equal
- The Safety and Security of FDIC insurance protection on all your CD money
- A consolidated monthly statement
- A single 1099 at year end
- The protection of the CDARS program (Learn more about the CDARS program by visiting the CDARS website)
Learn more about customized CDs from Lincoln Savings Bank or check out our limited-time CD special!
*Amount of insurance coverage is subject to FDIC insurance coverage limits. For more information about FDIC insurance coverage of limits, visit www.fdic.gov.