Community Bank CD Rates
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
The Community Bank N.A. (CBNA) makes its headquarters in DeWitt, New York. De Witt is a suburb of Syracuse. The bank has branches in Upstate New York, among other places. The predecessor of the bank was the St. Lawrence National Bank which was founded in 1866. Community Bank is the wholly-owned banking subsidiary of Community Bank System, Inc. (CBSI). Community Bank is a member of the Federal Deposit Insurance Corporation (FDIC).
The Community Bank N.A. (CBNA) makes its headquarters in DeWitt, New York. De Witt is a suburb of Syracuse. The bank has branches in Upstate New York, among other places. The predecessor of the bank was the St. Lawrence National Bank which was founded in 1866. Community Bank is the wholly-owned banking subsidiary of Community Bank System, Inc. (CBSI). Community Bank is a member of the Federal Deposit Insurance Corporation (FDIC).
The Community Bank offers personal banking products and services, as well as business banking and government banking. If you wish to start saving your money in a manner that brings you in more interest then why not invest in a certificate of deposit account? Certificates of deposit allow you to tailor your investments in such a way that they can meet the financial goals you have on a short, medium and long-range basis. All of the Community Bank CD rates are fixed rates that allow you to choose between a selection of terms and rates. You must have a minimum opening deposit of $1,000 in order to open a CD at the Community Bank.
Here is a sample of some of the current Community Bank CD rates (accurate as of April 19, 2010):
• 2+Year – 1.20%APY
• 60 Month Term- 2.25%APY
In order to see the other CD terms and rates that the bank has available it is necessary for you to drop into your local branch. If the branch does not have the rates posted on a sign then a banker or customer service representative will be happy to provide you with the information you require.
When considering whether you should apply for a certificate of deposit or not there are certain questions that it is important for you to ask yourself. To begin with, what is the interest rate on the certificate of deposit and how is it paid out (in other words, will it be paid out at maturity, on an annual basis, a semi-annual basis or a quarterly basis)? How long is the term for the CD and when is the maturity date? Most banks (and that includes the Community Bank) impose a stiff penalty when money is withdrawn from a CD account. It is important for you to find out what the early withdrawal fees are before you make the leap and place your money into such an account.
CDs are a very good place for people who have never invested before. They are also good for those individuals who wish to diversify an investment portfolio that has become risky. CDs are often viewed as a dull investment by many seasoned investors. While you will not earn as much interest on a CD as you would if you invested in stocks, bonds or mutual funds you also will not have to worry about any of the principal of your money being compromised. Check out the recent Community Bank CD rates to learn more!
