Personal Overview > Savings > Certificates of Deposit

Lorain National Bank offers a variety of certificates of deposit with terms from seven days to 60 months. As with all of our savings and investment plans, you may match the certificate of deposit to your specific needs. Interest rates are subject to change weekly, but are fixed for the term of the certificate. Here are some account highlights:

• $1,000 minimum deposit to open ($10,000 for 7-day & 30-day CD)
• no additional deposits accepted until maturity
• interest is compounded quarterly and paid at your discretion
• monthly interest payments are available for CDs of $5,000 or more
• individual accounts insured up to $100,000 by FDIC
• substantial interest penalty for early withdrawal

Certificates of $100,000 or more are also available. There are no maximum rate restrictions for these certificates and the rates paid vary, based on current market conditions.