Certificates of Deposit (CDs) are a great way to save for college, taxes or your dream vacation – whatever your goals are!
Simply plug in the amount of the deposit you’d like to make, your term and the APY, and we’ll do the rest!
Call one of our experts for the next steps on making your financial dreams come true.
603.225.2793 or 800.541.0006
Initial Deposit – The starting balance of your CD.
Months – The term of the CD, expressed in months.
Annual Percentage Yield (APY) – This is the effective annual interest rate earned for this CD. A CD’s APY depends on the frequency of compounding and the interest rate. Since APY measures your actual interest earned per year, you can use it to compare CDs that have different interest rates and compounding frequencies.
Compounding – Your CD’s interest income grows over time through compounding. This means that the interest is added to your balance, which then earns more interest. Check your account opening records or the documentation from your financial institution to determine the frequency of interest compounding on your CD.
* $500.00 minimum to open Certificate of Deposit with Merrimack County Savings Bank. A substantial interest penalty may be required for early withdrawals from Certificates of Deposit and IRA CDs.
** This information is made available to you as a self-help tool for your independent use and is not intended to provide financial advice. All examples are hypothetical and are for illustrative purposes. Please consult with a financial advisor for a solution suitable for your needs.