Save on Your Terms

Like Regular Savings Accounts, certificates of deposit (CDs) allow you to save money but with a fixed interest rate and a fixed timeframe. CDs are a safe, convenient way to save for your retirement, vacation, new home, college education and more!

  • Minimum balance to open: $1,000.00 – $2,500.00 (depending on term)
  • Terms range from 90 days to five (5) years
  • Interest can be deposited into another PWSB account, reinvested into the CD or paid out by check
  • A penalty may be imposed for withdrawals before maturity

Tip: You can use the FDIC’s Electronic Deposit Insurance Estimator (EDIE) to calculate the insurance coverage of your accounts.

CD Extras

Investing in a low-rate environment

If you’re worried about investing in a CD when rates are low, consider a laddering approach.

By opening longer-term CDs at different times, your CDs will come due every year, 6 months or even more frequently. By staggering when your CDs mature, you retain the ability to access funds without incurring a penalty.

Laddering also gives you the opportunity to invest during different rate environments and enjoy better returns than investments in savings accounts, money market accounts or short-term CDs.

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