Small in Size Big on Service
Welcome to Freehold Savings Bank website. To those of you who have made us a part of your family, we thank you for your trust and support. If you are visiting for the first time, welcome to our bank. We understand the value of keeping good relationships. Our commitment to the community runs deep. Explore our site weekly for upcoming specials, products and developments. We're looking forward to being of service to you. Contact Us
A Certificate of Deposit (often called a CD) is a type of savings account with a fixed rate and fixed maturity. That means that the interest rate on the money deposited is guaranteed, as long as the money remains in the bank for the time shown on the certificate. There is an interest penalty if all or part of the deposited money is withdrawn before the maturity date.
This is an FDIC insured deposit. The interest rate is fixed for the term of the certificate. Interest is compounded daily and paid or credited monthly. Certificates may be automatically renewed at maturity. You will have seven (7) calendar days from the maturity date to withdraw your funds without being charged a penalty. The interest rates paid vary by maturity and may be found on the current rate sheet. The minimum balance required to open this account is $500 and additional deposits are not permitted. Your interest rate and annual percentage may change at our discretion. Interest begins to accrue on the day you deposit cash/non-cash items. Please call for additional details.
Interest is compounded daily and paid or credited monthly. Certificate rates are found on the current rate sheet. Early withdrawal penalties apply
Fees may reduce earnings on the account.
NOTICE IN TEMPORARY OF CHANGES FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS
All funds in a “non-interest bearing transaction account” are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012.This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC’s general deposit insurance rules.
The term “non-interest bearing transaction account” includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, money-market deposit accounts, and interest on Lawyers Trust Accounts (“IOLTAs”)
For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.
