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