Want higher earnings for lesser risk? Certificates of Deposits may be the right kind of investment for you. CD’s give you a higher interest rate without having to sacrifice security. Once you’re locked in to an interest rate, you’re guaranteed to earn interest on your money depending on the length of your term. Investments can be all about the rates which is why it’s doubly important to get a CD from an institution that gives higher returns and one that you can trust. One bank that does this for you is Central Bank.
All About Central Bank
Central Co-Operative Bank was its legal name when the bank started in the year 1915. It was then a chartered co-operative bank in Massachusetts that was focused on deposits, savings, and mortgage loans. But as the years went on, it started to offer other financial services to accommodate the needs of their consumers. It grew through different merges and soon became a public company in October 1986. Today, Central Bank is much known for its full community services with operations that involve lending, checking, deposits, retails, and more business and banking related accounts.
Certificate of Deposits at Central Bank
Those who are interested should know that the minimum amount to open a certificate of deposit account at Central Bank is only $1,000. For those who want their special CD promotions, they can select the 22 month CD term with an interest rate of 1.09% and an annual percentage yield or APY of 1.10%. The next choice will be the 30 month CD with a rate of 1.35% and an APY or 1.35%. Those who want the regular certificate of deposit rates should visit the bank and inquire more about it because they do have other terms that they provide to their clients.
In the end, it is very important to open a certificate of deposit account especially at Central Bank so that one can save enough not just for today but for the future.