Are you looking for a way to save some bucks for something big down the road? Maybe a motorcycle or a boat?
Relatively low risks and higher rewards make certificates of deposit a strong resource for saving — and earning — money. Certificates of deposit differ from other savings accounts in that you must commit to keep your funds in the bank for a set amount of time. The longer that term, the higher the interest rate.
- Minimum opening balance: as low as $500.00
- Terms range from 91 days to 30 months.
- No management fees
- Early withdrawal penalties apply.
- 91 day and 182 day interest paid at maturity
- 12 month and longer interest is payable quarterly by check or automatic transfer to your Malvern Bank checking or savings account, or it can be added to the certificate of deposit.
To open a certificate of deposit account, stop in and talk with Christine or Kristin. Not in town today? Call 712-624-8686 or fill out our contact form and we’ll get the paperwork started.