Inflation Tamer CD™
Are you worried that interest rates will start to rise and you’ll be stuck with a low rate or be penalized for moving to a higher rate? You can open an Inflation Tamer CD™ with us now and in the future increase the rate to keep up with inflation.
Our Inflation Tamer CD™ is a certificate of deposit that is available for personal, business or not for profit customers. It is also available as an Individual Retirement Account (IRA) investment.
Using our Inflation Tamer CD™ is simple. As interest rates start to rise, your rate may increase one time during the term of your Inflation Tamer CD™.
Since a certificate of deposit is a “time” deposit with a term, penalties may apply to withdrawals made prior to the deposit’s maturity date. For our 'Jumbo' certificates of deposit, no early withdrawal is permitted. Consult your account agreement at account opening for details.
Other features of the Inflation Tamer CD™:
- Interest is paid monthly.
- It can be viewed with Online Banking.
- Inflation Tamer Certificate of Deposit Terms:
- 24 month term
The Inflation Tamer CD™ will not automatically renew.
Call us at 734-761-1475 for more details!
*The Annual Percentage Yield (“APY”) is 1.11%. This APY is available through August 31, 2014. This account is a two year certificate of deposit. The interest rate for your account may change after opening. We will increase your interest rate on the one year anniversary of this certificate of deposit to match the then current interest rate we offer for two year certificates of deposit. Your interest rate will not decrease. Minimum balance of $500 required to open an account. Fees may affect the earnings on your account. A penalty may be imposed for early withdrawal. See your account disclosures for account terms.