Maintain.Protect and add to your savings

Certificates of Deposit

If you have some money saved up, and you don’t think you’re going to need it for awhile, try putting that money in a product that can earn you a little bit more than a traditional savings account while remaining very secure.  CERTIFICATES OF DEPOSIT (CDs) are the perfect way to protect and grow your money.  CDs are deposit accounts in which you invest a fixed sum of money at a fixed interest rate for a fixed term.  These securities have a variety of terms (maturities) and flexible interest payment options depending on the specific attributes of the CD.  After you’ve purchased the CD, you won’t be able to make additional deposits in or withdrawals from the account until the maturity date.  Early withdrawals can trigger penalty assessments.  So, this isn’t as flexible of a savings product as the Kasasa Saver and Community savings accounts, but it is a safe and effective way of saving and earning on your money.

All LSB CERTIFICATES OF DEPOSIT offer competitive rates of interest and are insured up to the FDIC maximum amount per depositor.  You can view CD interest rates here.  CDs can have short terms (generally less than one year) and long terms (generally more than one year).  LSB offers a variety of maturity terms in each of the short and long term category.  Here are some of the options we regularly offer along with some of the requirements for those CDs:

Short Term CD Options:

• 31,91, or 182 day terms available
• Minimum deposit of $1,000 to open the account
• Interest is compounded and credited at maturity
• Penalty for early withdrawal (Fees could reduce published earnings)
• Annual Percentage Yield assumes that interest remains on deposit until maturity (A withdrawal of interest could reduce published earnings)

Long Term CD Options:

• 12,18,24,30,36, and 60 month terms available
• Minimum deposit of $1,000 to open the account
• Interest is compounded quarterly
• Interest is credited quarterly and can be added back to the CD or paid in the form of a check or deposit into your LSB checking/savings account
• Penalty for early withdrawal (Fees could reduce published earnings)
• Annual Percentage Yield assumes that interest remains on deposit until maturity  (A withdrawal of interest could reduce published earnings)

We also often offer CD Specials and Heavy Rate products which can have off-cycle terms and higher interest rates. If you think a CERTIFICATES OF DEPOSIT savings product from La Salle State Bank might be the right savings method for you, contact one of our Personal Bankers for more information.