Certificate of Deposit (CD)
Our CD specials are available for a limited time. More information below.*
Looking for a great way to save for the future? Including Certificates of Deposit (CDs) in your portfolio is an excellent way to invest in the future. Just ask any professional financial planner. Open a Certificate of Deposit (CD) at 1st Source and enjoy great rates and a guaranteed return.
Our flexible Online CDs let you choose terms ranging from 7 days to 6 years. Interest rates, expressed in Annual Percentage Yield (APY), are guaranteed for the term chosen. Deposits are insured up to $250,000 by the FDIC (calculate your FDIC insurance coverage). Choose the Terms of Your CD and apply today.
Certificate of Deposit (CD) Help
A CD is similar to a savings account in that it's FDIC insured and virtually risk-free. However, a CD has a specific length of time, or term, that your money is held (often three months, six months, or one to five years) and usually, a fixed interest rate.
- Great rates with guaranteed returns.
- Wide variety of terms available to fit your needs.
- Knowing your investment is FDIC insured up to $250,000 per depositor.
Interest on CDs is paid at least once per year in several methods:
- Accrued interest is added to the principal annually or at maturity if the CD period is less than one year.
- Interest is directly deposited to your checking or savings account monthly, quarterly, semiannually, or annually.
CDs are self-renewing at maturity at the current interest yield offered for new certificates with similar terms. Once the CD reaches maturity, you may withdraw your money or reinvest into a new CD. Certificates may not be withdrawn wholly or partially prior to their stated maturity without substantial penalty.