In today's world, there are literally thousands of different ways to invest your money. However, very few are as safe, sound and straightforward as a Central State Bank certificate of deposit.
Sometimes referred to as a "time deposit," a CD is essentially a contract between you and the bank. You agree to invest your money for a specific period of time --- say six months, a year or longer. In return, the bank agrees to pay you a higher rate of interest than a savings or money market account; in general, the longer the time period, the higher the interest rate. If you break the contract and take your money out ahead of time, you'll pay an "early withdrawal penalty" that may range from 3 to 12 months loss of interest, depending on the term of your CD.
Our certificates of deposit are easy to open, they're extremely safe (FDIC-insured), and you can get started with an investment of just $500. Here are a few key features of our most popular types of CDs.
For further information including current interest rate and Annual Percentage Yield (APY) information, click on the "Get Started Now" box to the left.
From time to time, we offer "CD Specials" --- certificates of deposit with special interest rates, terms or other unique features. They're often developed to help us match up the bank's source of funding (deposits) with the demand for loans. To check for availability, contact any Central State Bank location.