A Predictable Way to Grow Your Savings

Certificates of Deposit (CDs) can help you earn interest on money you do not need right away while giving you the confidence of a fixed rate and FDIC-insured protection.

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What Is a Certificate of Deposit?

A Certificate of Deposit, or CD, is a savings option that lets you deposit money for a fixed period of time while earning interest at a fixed rate.

Unlike a traditional savings account, CDs are designed for money you do not plan to use right away. In return for leaving your funds on deposit until the maturity date, you typically earn a higher rate of interest than you would with a standard savings account.

When your CD reaches maturity, you can choose to withdraw your money, renew your CD, or explore other savings options with your banker.

Why Choose a Certificate of Deposit?

A CD can be a smart option when you want a predictable way to save for future goals while earning a fixed rate for the term you choose.

Fixed Returns

Lock in a fixed interest rate and enjoy a predictable way to grow your savings throughout the term of your CD.

Flexible Terms

Select a maturity period that fits your timeline, with terms ranging from 3 months to 5 years.

Low Minimum Deposit

Get started with a minimum opening deposit of just $500 and begin saving toward future goals.

FDIC Insured

Your deposits are FDIC-insured up to applicable limits, helping protect the money you've worked hard to save.

Opening a CD Is Simple

Whether you’re saving for a future purchase, a milestone, or simply looking for a predictable savings option, Somerset Trust can help you take the next step with confidence.

  1. Choose Your Term

    Select a maturity period based on when you expect to need your money.

  2. Open Your CD

    Make your opening deposit and lock in your fixed rate for the selected term.

  3. Let Your Savings Grow

    Earn interest throughout your CD term and revisit your options when it reaches maturity.

Get Started

Certificate of Deposit FAQs

We know questions don’t always come up during business hours. These answers can help you understand how CDs work and decide whether one may fit your savings goals.

Think about when you expect to need the money. If you’re saving for a goal that’s one year away, a shorter-term CD may make more sense than locking funds away for several years.

Yes, but early withdrawals may be subject to penalties and could reduce your earnings. Contact Somerset Trust for current penalty details before making a withdrawal.

When your CD reaches maturity, you can withdraw the funds, renew the CD, or talk with a banker about other savings options that may fit your goals.

Many CDs renew automatically at maturity unless you give other instructions. Somerset Trust can walk you through your renewal options before your CD term ends.

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Let’s Move Forward, Together

Open an account, explore your options, or receive personalized guidance from a local expert.

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