CERTIFICATE OF DEPOSITS
Certificates of Deposits are for the customer who is looking to invest in an account that has a higher rate of return than a checking or regular savings account. With a minimum deposit of $500.00, your funds are invested for a length of time that is determined by you. The rate of interest is locked in for that time period and will not change until your certificate matures. At that point you make the decision on the length of your next Certificate term. You also have the choice of how you want your interest paid. It can be paid by check, re-deposited into the Certificate, or added to your savings or checking account.
Term | Interest Accrual | Day Basis |
91-Day | Daily | 365/360 |
182-Day | Daily | 365/360 |
9-Month | Quarterly | 365/365 |
1-Year | Daily | 365/360 |
18-Month | Quarterly | 365/365 |
2-Year | Daily | 365/360 |
30-Month | Quarterly | 365/365 |
36-Month | Quarterly | 365/365 |
4-Year | Daily | 365/360 |
All deposit accounts at the Markesan State Bank are FDIC insured, including Certificate of Deposit accounts. The standard insurance amount is $250,000.00 per depositor, per insured bank, for each account ownership category. The FDIC provides separate coverage for deposits held in different account ownership categories. Depositors may qualify for more coverage if they have funds in different ownership categories and all FDIC requirements are met.