Q:

What kinds of CDs does First National Bank offer?

A:

Quick Answer

As of June 2015, First National Bank offers certificates of deposit with terms ranging from 32 days to three years, according to the official website. All of the CDs require a $2,000 initial deposit and have an early withdrawal penalty ranging from one to nine months.

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Full Answer

Shorter-term CDs with maturity terms of 32 days, 90 days or six months have a one-month penalty for early withdrawal of the deposits, and one-year CDs have a two-month penalty, explains First National Bank. Eighteen-month CDs have a three-month penalty, and two-year CDs have a six-month penalty. Three-year certificates have a nine-month penalty for early withdrawal of funds. Certificates for one year or more offer a step-up option, which allows a depositor to change the interest rate once during the term of the instrument.

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