Securely invest your money for a fixed period of time. 

A Certificate of Deposit (CD) is a type of savings account that earns interest for a set period of time. CDs are different from savings accounts in that the deposited funds must remain untouched for the entirety of their term. Withdrawing earlier may incur penalty fees or lost interest. CDs typically offer higher interest rates than savings accounts, which can provide an incentive to utilize this type of savings product.

  • CDs are considered to be a more conservative investment for your money than stocks, for example. While these products offer less opportunity for growth than investing in stocks, they do guarantee a rate of return on your investment.
  • Bristol County Savings Bank offers a variety of terms for CDs, from one month to five years.

Like checking accounts, savings accounts, money market accounts and IRAs, CD accounts for Massachusetts and Rhode Island customers are protected by the by the FDIC (Federal Deposit Insurance Corp.) The FDIC insures deposits up to $250,000 per depositor, per insured bank, for each account ownership category.

 

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