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Home > Deposit Products > Investments > Certificate of Deposit

Certificates of Deposit

A deposit of funds for a specific period of time with a previously agreed upon rate of interest.

Features:

Wide variety of terms available
Interest accrues daily
Variety of interest payment methods
Interest paid monthly, quarterly, semi-annually, or at maturity
At maturity, CD's rollover for another term automatically at prevailing interest rate
Notification of maturity date and value of maturing certificate sent to customer before the maturity date
Customer has 10 days following the maturity date to make a reinvestment decision. Funds may be withdrawn penalty-free during this period
Certificates may be pledged as collateral on a loan
FDIC Insurance
A penalty will or may be imposed for early withdrawal

Benefits:

Flexibility, convenience
Interest
Convenience, uninterrupted earnings
Lower interest rate
Safety

Opening Requirements:

Minimum deposit of $1,000

Who is Eligible:

Individuals
Businesses
Organizations

Inez Deposit Bank

Notice Of Changes In Temporary FDIC Insurance Coverage For Transaction Accounts

All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules.

The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, and money-market deposit accounts.

For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.

NOTICE: Inez Deposit Bank is not responsible for and has no control over the subject matter, content, information, or graphics of the websites that have links here.