Time Deposits

Choose the length of your investment...

A Time Deposit (sometimes referred to as CDs) is an interest-bearing bank deposit that has a specified date of maturity. Sterling Bank offers Time Deposits, ranging from 182 days to 60 months. To open a Time Deposit, you must deposit a minimum of $1,000.00. Our Century Savings Account option is a variable rate, no minimum opening balance required time deposit that allows you the flexibility 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” 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