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Interest bearing investments that provide enhanced earnings based on the length of term committed to the funds.
Certificates of deposit offer fixed rates over a specified term--generally from 30 days to five years. Annual percentage yields are higher than savings accounts and typically increase with the length of the term. CDs are excellent investments for those who don't require liquidity and seek a predictable return. A penalty is imposed for early withdrawal of funds from a certificate of deposit.
The Advantages
Highly competitive daily rates
Flexible terms
Fixed rates offer predictable return
Automatic transfer of interest to checking or savings account
FDIC insurance up to $100,000 per depositor
Documentation for your records
Automatically renewable
Reminder notice at maturity
How it Works
1. First Midwest Banker works with you to fine tune term and available rate to meet your particular goal.
2. Upon opening of CD, a document will be generated for your records.
3. Based on your direction, terms of 12 months or less, interest can be transferred to another account monthly, quarterly, semiannually, annually or at maturity.
4. Upon maturity, there is a 10 days grace period to cash in the certificate or allow it to renew for the same term at the new rate available at that time.
Contact a Cash Manager
Return to Investment
Institutional Cash Management Account
Repurchase Agreement
Business Money Market Account
Business Primelink Investment Account
Certificates Of Deposit
Business Savings Account
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