North Akron Savings Bank

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Certificates of Deposit (CDs)

All certificates of deposit (CDs) are FDIC-insured! They are safe and offer a great way to save money for a fixed time period with a fixed interest rate.

Certificate		Min Bal Req*	Rate	APY**
31 Day CD		$1,000	0.05%	0.05%
91 Day CD		$500	0.15%	0.15%
5 Month CD		$500	0.20%	0.20%
6 Month CD		$1,000	0.20%	0.20%
7 Month CD		$1,000	0.20%	0.20%
8 Month CD		$500	0.20%	0.20%
9 Month CD		$1,000	0.20%	0.20%
12 Month CD		$1,000	0.25%	0.25%
13 Month CD		$1,000	0.25%	0.25%
18 Month CD		$1,000	0.35%	0.35%
24 Month CD		$1,000	0.40%	0.40%
36 Month CD	Tier 1	$1,000	0.45%	0.45%
	Tier 2	$25,000	0.50%	0.50%
	Tier 3	$50,000	0.55%	0.55%
48 Month CD	Tier 1	$1,000	0.60%	0.60%
	Tier 2	$25,000	0.65%	0.65%
	Tier 3	$50,000	0.70%	0.70%
60 Month CD	Tier 1	$10,000	0.999%	1.00%
	Tier 2	$50,000	1.14%	1.15%
	Tier 3	$100,000	1.24%	1.25%

*Minimum balance required to open an account and obtain APY.

**Annual Percentage Rate (APY)

Rates are effective as of Feb. 4, 2014, and are subject to change without notice.

Penalty imposed for early withdrawal.

How to Create a CD Ladder

Creating a CD ladder can be an easy way to maximize your potential earnings.

The practice of using laddered CDs depends on your personal financial goals. They are great for people who want safety of capital, predictable cash flows, and simplicity. CDs are very easy to understand, to access, and to structure to meet your financial goals.

Laddering CDs involves spreading your deposits across multiple CDs with varying maturity dates to create periodic cash and interest distributions to fit your needs. CDs offer you a variety of rates and when they mature you can decide renew at the current rate, withdraw, or both. Usually, the longer the term the better the rate and typical lengths offered are 3, 6, or 9 months, all the way up to 60 months (5 years). A laddered CD portfolio requires maintenance, but to simplify the process, you can opt to automatically renew your CDs.

Head to your neighborhood North Akron Savings Bank office to talk to one of our associates. Enjoy a cup of coffee while you open your account!