Help Your Money Grow Faster
Would you like to help your money grow faster with a higher interest rate while you choose the terms that work best for you? A Certificate of Deposit (CD) allows you to take advantage of higher interest rates than you’ll see on a standard savings account, allowing you to maximize your earning potential. The best part about opening a CD at F & M Community Bank? You set the terms. We offer terms anywhere between three months and five years.
Our CDs – What You Should Know
Here’s what you need to know about the CDs we offer:
- $1,000 minimum deposit to open
- Fixed interest rate (better rates for longer terms)
- Interest is accrued daily and is compounded or paid quarterly
- No setup or maintenance fees
- Your funds are FDIC-insured up to $250,000
- Account renews automatically at maturity*
- Early withdrawal is subject to a penalty
*There is a 10-day grace period for reinvestment renewal options.
CDARS – Insure Your Funds on Larger Balances
If you want to maintain a larger balance in your CD, you can still have your funds fully insured through the Certificate of Deposit Account Registry Service®. CDARS can offer FDIC coverage up to $50 million and offer rates comparable to F & M Community Bank CD rates. Our staff manages everything for you, so you’re still working with our local team. If you’d like to learn more, please visit the CDARS website.
