Looking for ways to invest your funds in a safe manner? The Farmers Bank of Appomattox has a number of avenues you can choose from. A Certificate of Deposit is a time deposit where customers are paid competitive rates when you invest your funds for a specified period of time. Our CD maturity terms range from 6 months to 5 years. Our Customer Service Representatives would be glad to assist you with any questions you may have.
Vice President & Retail Operations Manager
A Certificate of Deposit, or CD, allows you to safely and predictably invest your funds for a specified period of time and earn competitive dividends.
- $1,000 minimum deposit to open ($500 minimum for minor accounts)
- Interest rates vary according to length of term
- Jumbo CD rates
- No-Penalty CD available*
- CD maturity terms range from 6 months to 5 years.
Farmers Bank will notify you when your CD is about to mature. You will also receive a renewal rate notification to let you know what the plan is paying. You will have a 10-day grace period to change your term or withdraw your certificate without penalty.
*An early withdrawal penalty will apply to all certificates except the "No-Penalty" CD. A penalty equal to 91 days of interest will be assessed for terms of twelve months or less, or 182 days of interest for longer terms.