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Certificates of Deposit

A Certificate of Deposit (CD) is a type of time deposit. CDís are similar to savings accounts in that they are virtually risk-free because they are FDIC insured* and unlike stocks or bonds, CDís will not ever be worth less than what you pay for them. They are different from savings accounts in that the funds are deposited for a fixed amount of time (the term) and are subject to penalties if a withdrawal is made priority to maturity. As a result of this fixed term of deposit, CDís generally pay higher interest rates than savings accounts.

First Metro Bank offers a competitive and wide variety of rates based on the term and maturity of the chosen certificate. Please contact a local office for current rates and terms.

*The standard deposit insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.