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Home » Cds


Certificates of Deposit (CDs)


A Certificate of Deposit (CD) is a time deposit which enables the customer to earn a higher rate of interest than a traditional savings account. Terms on CDs vary from long term to short term. Unlike a traditional savings account, no deposits or withdrawals are allowed on the account without penalty.

In addition to its regular CD rates and terms, American Savings periodically offers special CDs with different rates and terms. American Savings also offers Variable CDs and Jumbo CDs.


Product features:
  • Accrued interest compounds quarterly.
  • Interest accrues based on a 365 day year.
  • Interest begins to accrue on the day American Savings receives credit.
  • Interest is not credited if the customer closes the account before receiving interest.
  • The minimum deposit is $1,000 on most CDs.

Variable CDs

Unlike a regular CD, the rate on a variable CD is not fixed. Rather the rate is set based on 50% of the Wall Street Journal Prime rate plus 0.5%. As prime changes, the rate on the CD also changes. Other terms and conditions are the same as for regular CDs.


Jumbo CDs

A Jumbo CD, much like our regular CDs, is a time deposit which enables the customer to earn a higher rate of interest than a statement or traditional savings account. But with a minimum deposit for a Jumbo CD of $100,000, the customer receives a higher rate than that offered for a comparable maturity regular CD. Other terms and conditions are the same as for regular CDs.


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