First Bank of the Lake: FAQs on CDs

Saving money in today's day and age is essential and finding the easiest ways possible to do that are key. Our bank in Osage Beach is here to answer a few frequently asked questions regarding CDs or Certificates of Deposit. If you are looking for a convenient way to save money this year, call First Bank of the Lake at 573-348-2265. We have a passion for helping people with their financial needs and we don't try to sell you a service or product you don't need. Keep reading for the answers to a few frequently asked questions on CDs.

FAQs on CDs

Q: What are the benefits of having a CD?

A: CDs typically offer higher yields than a regular savings account, in exchange for locking away a consumer’s cash for a specific time period. Therefore, you could be getting the most out of your savings by choosing to use a CD.

Q: What are the typical terms offered in a CD?

A: Certificates of Deposit (CDs) are common savings products also known as "time deposits". CDs are typically offered in terms of 3 months, 6 months, 1 year, 2 years, 3 years, or greater.

Q: How do the interest rates of CDs normally work?

A: The rates typically increase with the length of deposit terms, so the longer the CD the higher the interest rate.

Please note: Deposits in a bank CD are federally insured by the FDIC for up to $250,000 per depositor, per insured bank.

Interested in a CD at Your 5 Star Community Bank?

Check Out Our Current Rates

Interest Rates
*Rates subject to change without notice

Certificate of Deposits

Minimum Opening Balance = $2,000

3 Months (0.10% APY*)
6 Months (1.10% APY*)
12 Months (1.11% APY*)
18 Months (1.21% APY*)
24 Months (1.26% APY*)
30 Months (1.26%APY*)
36 Months (1.26% APY*)
48 Months (1.26% APY*)
60 Months (1.26% APY*)

CD SPECIALS ($5,000 Minimum Opening Balance)

6 month special: (1.1% APY*)
9 month special: (1.66% APY*)
15 month special: (1.86% APY*)
26 month special: (2.02% APY*)
33 month special: (2.12% APY*)
42 month special: (2.27% APY*)

3-6 Month CDs Interest Compounds at Maturity
9-60 Month CDs Interest Compounds Quarterly
APY = Annual Percentage Yield
Substantial penalty for early withdrawal

Do You Have a Question About How Our CDs Work?

Call First Bank of the Lake. Our account specialists are ready to do assist you and try and answer any questions about our CDs that you may have. We are a local bank at the Lake of the Ozarks and have been for over thirty years. We make all of our decisions right here at home and we use good judgment and compassion when evaluating customer requests. We want to make sure you feel comfortable in every aspect along the way when starting a CD with us. Please do not hesitate to call us at 573-348-2265 with any questions you may have or stop by and visit with us at 4558 Osage Beach Parkway Suite 100 anytime during our hours of operation. Our hours of operation in the lobby are Mon - Fri 8:30 am - 4:00 pm and Saturday 8 am to Noon.

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First Bank of the Lake - Striving For Excellence

Member FDIC. Equal Housing Lender.