A CD is a type of deposit with a bank or thrift institution that usually offers a higher rate than a traditional savings account. And, different from other investments, a CD includes Federal Deposit Insurance up to $250,000.
When you purchase a CD, you commit to a certain amount of money for a fixed period of time. Consult Trust Administration Services for the various maturities available. In exchange, the bank pays interest to your account. The interest can vary depending on the time period. When you cash in the CD, you get back the original investment plus the interest. If you cash the CD in before that time you may have to forfeit a portion of the interest.
CD’s can be held in a retirement account through Trust Administration Services. Title to the CD would be held in the name of your IRA account (FDIC as Receiver for First Regional Bank c/f Client Name) with the TRUST tax identification number.
Contact our Customer Service Department
for help completing the certificate of deposit transaction.
Prohibited Transactions |