What Your CD Test Score Means

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 which means that your money is protected by the US Government up to $100,000. 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 an investment savings account, like a 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 7 days 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 10 years, and match the maturity date to your needs.


The above chart is for your information only. Be sure to consult a customer service representative before opening a certificate of deposit or money market account. ©2014 The Forms Group, All Rights Reserved.

 

Certificates of Deposit RatesIcon For: Rates

Term Rate APY*
3 Month .70% .70%
6 Month .85% .85%
12 Month 1.25% 1.26%
18 MonthVar. Rate CD/IRA Only 1.75% 1.75%
24 Months 1.40% 1.41%
36 Months 1.85% 1.86%
48 Months 2.00% 2.01%
60 Months 2.60% 2.63%
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*Annual Percentage Yield is accurate as of 02/22/19 and is subject to change without notice. A minimum balance is required to obtain the APY. Each account requires a minimum opening deposit. There may be a penalty for early withdrawal.