Certificates of Deposit

It’s never too late to start saving for the future of your business. We have options that can help you with your long-term plans.

A certificate of deposit is a time deposit that allows you to invest funds for a specified period of time then sit back and watch it grow. It normally offers a higher interest rate than a regular savings account without the market risk of other investments; therefore, these accounts are ideal for those who wish to minimize risk and do not need instant access to funds.

With a Severn Savings Bank CD, you choose the term of your investment. Generally, the longer the term length, the higher the interest rate – so longer terms may yield the best return. However, an early withdrawal penalty may apply if you withdraw funds before the end of the CD term.

If your business has excess reserves, and you’re looking for the security of a fixed rate of return, we offer a variety of flexible CDs ranging in terms from 30 days to 60 months. Rates and minimum balance requirements vary by term.