What is a Certificate of Deposit?

February 8, 2024

by Christian Phillips

Updated Thursday, February 8, 2024. 

Certificate of Deposit:
A certificate of Deposit (CD) is an account where consumers can deposit money and earn interest for an indicated period. CDs generally pay higher interest rates than standard checking and savings accounts. Early withdrawal penalties may apply.
Are you interested in accelerating your financial growth? Frandsen Bank & Trust offers a Premium Annual Percentage Yield through their 5 or 10-month CD. Regardless of which option you choose, Frandsen Bank & Trust provides a low-risk investment opportunity that caters to your specific needs. Contact your local Frandsen banker and start investing your money today!
Earn 5.12% APY*
5-month term
  • $25,000 minimum opening balance required.
  • Interest on the 5-month certificate of deposit (CD) will be credited at maturity.
  • IRA funds are eligible.
  • Must be opened at a Frandsen Bank & Trust office.
Earn 4.80% APY*
10-month term
  • $25,000 minimum opening balance required.
  • Interest on the 10-month certificate of deposit (CD) will be credited at maturity.
  • IRA funds are eligible.
  • Must be opened at a Frandsen Bank & Trust office.
*Annual Percentage Yield (APY) effective as of: February 8, 2024 Early withdrawal penalties apply Municipalities do not qualify
 

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