What Your CD Test Score Means

Find Out What CD Is Right For You

If you’re looking for an investment that protects your principle while giving you a higher return than traditional savings accounts, Certificates of Deposit (CDs) are a smart option.  They are FDIC insured. To help you decide whether a short-, medium- or long-term CD is right for you, compare your test score to the chart below.

CERTIFICATE OF DEPOSIT CHART

If Your CD Test Score is…

Under 70 points:

You need a lot of liquidity, so a CD may not be right for you. Keep accumulating money in a Regular Saving account or Insured Money Market account.

70 to 80 points:

You need some liquidity, but you can afford to lock your money in for a short period of time. Choose a short-term CD that matures in 3 month to 12 months, and match the maturity date to your needs.

85 to 95 points:

You will probably require access to your funds within the next 12 to 24 months. Select a medium-term CD that matures in 1 to 2 years, and match the maturity date to your needs.

100 points or more:

You can afford to take advantage of the higher interest rates a long-term CD yields. Consider a CD that matures in 2 to 5 years, and match the maturity date to your needs.

The above chart is for your information only. Be sure to consult a Personal Banker before opening a CD or money market account. 
 
A penalty may be imposed for early withdrawal on CDs.  Fees may reduce earnings on Regular Savings  account and Insured Money Market account.
  
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