First National Community Bank (PA) CD Rates

If you have been setting aside money for some time to save and invest then look no further than a certificate of deposit (CD). A CD is a safe and risk free means of investing money that offers excellent returns. It will also earn you a higher amount of interest than you would earn if you simply put your money into a savings account.  The First National Community Bank (PA) CD rates are competitive with those of other financial institutions. You will earn a maximum interest rate and your money will be protected by the FDIC.

The First National Community Bank (FNCB) makes available to its customers three types of CDs. There is the fixed rate CD, the variable rate CD and the add-on CD. Let us take a look at each one of these certificates of deposit.

The fixed rate CD can be opened with a minimum balance of $1,000. The terms you can choose from range from three months to five years. You are guaranteed a fixed rate for the length of the term. The interest you earn compounds on a quarterly basis and can be credited either to the certificate of deposit, paid to you by check or else credited to your FNCB checking account or savings account. The CD automatically renews if you do not let the bank know that you wish to withdraw your money.

If you prefer rates that are subject to change then the variable rate CD is the best choice for you. The terms for this CD are one year, two years, three years or five years. The minimum deposit required for this account is $1,000. The interest rate for the variable rate CD is calculated by deducting what is known as a pre-determined margin from the National Prime Rate. Interest can be credited in the same way that it can with the fixed rate CD. This certificate is automatically renewable.

The add-on CD is only available for one type of term, that of one year. It can be opened with a lesser amount of money than the fixed rate or the variable rate CD. Open an add-on CD for only $500. If you wish to add additional deposits to this CD over its term they must be a minimum of $50.00. The add-on CD comes with a fixed interest rate. Interest on it compounds on a quarterly basis. The CD is automatically renewable.  Before you open a CD account take a look at the First National Community Bank CD rates found at the website- http://www.fncb.com/ to learn more.