Do you have some money saved? Do you have plans for the money, but not until some time in the future? A certificate of deposit might be the investment option for you.
Certificates of deposits, better known as CDs, are time-deposit accounts offered by The National Bank of Andrews. A set amount of money is deposited on the opening date of the certificate, and the money earns interest at a set rate until the maturity date. The National Bank of Andrews offers certificates with the following terms:
- One Month
- Two Month
- Three Month
- Six Month
- One Year
- Two Year
Changes can be made to the certificate at maturity, and the certificate can automatically renew for another term if the customer desires. Certificates of deposit are ideal for customers who wish to earn a higher interest rate than savings accounts on money that they will not have to touch for a set amount of time.