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A Time Deposit is an interest-bearing bank deposit that has a specified date of maturity. Sterling Bank offers a wide range of Time Deposits, ranging from 182 days to 5 years. To open a Time Deposit you must deposit a minimum amount of $1000.00. Century Savings are variable rate open time deposits with ability to make unlimited deposits.

Why Should I Consider a Time Deposit?

A fixed deposit account is an investment account and a type of savings account in which money is deposited for a stated period of time. It is often considered a “safe” investment option when compared to other investment types such as the stock market or money markets. Among the reasons to consider investing in a Time Deposit are:

* It encourages a savings habit

* Time Deposits often earn higher interest rates than savings accounts

* Your returns are insured to FDIC deposit limits

* You choose the length of time your money is invested



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For more information about any of our products or services please contact us at any of our branch locations or email today.