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Certificates of Deposit & CDARS

Secure your Savings.
 

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Certificates of Deposit

Certificate of Deposits or CDs are similar to savings accounts in that they are insured by the FDIC. They are different from savings accounts in that a CD has a specific fixed term, varying from 60 days to three years. Also a CD has a fixed interest rate. It is intended that the CD be held until the maturity of the term, at which time the money may be withdrawn or rolled over into the same term or a different term. Interest will be paid at maturity. CDs earn different rates for different terms. If a CD is withdrawn before the end of the term, there will be a penalty imposed.


Checking AccountsSavings AccountsRetirement Accounts

Certificate of Deposit

Features

Variety of terms & Locked in rate

Minimum Opening Deposit

$1,000

Maturity Terms

60 days to 3 years

Interest Rate

Contact the bank for our current rates

Limitations

Penalty assessed if Certificate is withdrawn before maturity:
 0-90 days: 30 days of interest. 91-365 days: 90 days of interest. 366-729 days: 180 days of interest. 730 & up: 360 days of interest

CDARS®

The Certificate of Deposit Account Registry® (CDARS®) is a convenient way to access multi-million dollar FDIC Insurance on CD investments. You sign one agreement with First National Bank of Southern California, earn one interest rate and receive one regular statement. It's that easy.

How CDARS® Works:

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Everything is handled through First National Bank of Southern California, a CDARS® Network member. When you place a large deposit with First National Bank of Southern California, First National Bank of Southern California uses the CDARS® service to place your funds into CDs issued by other members of the CDARS® Network.

This occurs in increments below the standard FDIC insurance maximum ($250,000) so that both principal and interest are eligible for FDIC insurance. By working directly with just one institution, you can receive insurance coverage from many. And, you receive just one regular, consolidated account statement.

Visit your local branch to register  Contact Us

Funds may be submitted for placement only after a depositor enters into a CDARS® Deposit Placement Agreement with us. The agreement contains important information and conditions regarding the placement of funds by us. CDARS® and Certification of Deposit Account Registry Service® are service marks of Promontory Interfinancial Network, LLC. The CDARS® service has been designed to satisfy the FDIC's requirements for pass-through deposit insurance coverage.

 

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