Certificates of Deposit

A Certificate of Deposit (often called a CD) is a type of savings account with a fixed rate and fixed maturity. That means that the interest rate on the money deposited is guaranteed, as long as the money remains in the bank for the time shown on the certificate. There is an interest penalty if all or part of the deposited money is withdrawn before the maturity date.

Features

This is an FDIC insured deposit. The interest rate is fixed for the term of the certificate. Interest is compounded daily and paid or credited monthly. Certificates may be automatically renewed at maturity. You will have seven (7) calendar days from the maturity date to withdraw your funds without being charged a penalty. The interest rates paid vary by maturity and may be found on the current rate sheet. The minimum balance required to open this account is $500 and additional deposits are not permitted. Your interest rate and annual percentage may change at our discretion. Interest begins to accrue on the day you deposit cash/non-cash items. Please call for additional details.

Rates

Interest is compounded daily and paid or credited monthly. Certificate rates are found on the current rate sheet. Early withdrawal penalties apply

Fees may reduce earnings on the account.

TEMPORARY FDIC GUARANTEE PROGRAM

Freehold Savings Bank is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through June 30, 2010, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules.