Merrimack Valley CU
Auto & Personal Mortgage & Home Equity Undergraduate, Graduate, & Refi Commercial Loans & Lines Former RTN Members

Online Banking

Forgot Username?

Forgot Password?'; } ?>

Register

Need Help?

Online Banking

Forgot Username?

Forgot Password?

Register

Need Help?

Home / What is a Certificate of Deposit?

What is a Certificate of Deposit?

A Certificate of Deposit (CD) is a savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate and can be issued in any denomination.

When you open a CD, your money is on deposit for a specific time period. For agreeing to keep it on deposit for a specified time period, you earn more than you would in a regular savings account. If you cash it in before its maturity date, you pay a penalty.

Check out our current Deposit Rates for our competitive certificate (CD) rates of return.

Not a member yet?

Joining is easy! You can open an account with as little as $5. First determine whether you’re eligible for membership and then open your account today!

This answer has been viewed 2657 times.



Related Questions