Certificates of Deposit (CDs)
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How do traditional CDs work?
When you buy a CD, you commit a fixed sum of money for a specified period of time. During that time —
whether it’s six months or five years — you receive a predetermined guaranteed interest rate, with interest
payments made to you at regular intervals. At the end of the CD term, you can cash in your CD and get all of
your initial investment back. Or you can choose to roll over your CD into a new CD, which may have a
different interest rate and term. If you cash in your CD before the maturity date, you may pay an early
withdrawal penalty.
Click here to learn more about Dollar Bank Traditional Term CDs.