A Cleveland State Bank Certificate of Deposit (CD) is a savings and investment plan that yields a high, fixed rate of interest. It offers great flexibility, because you choose both the amount to be deposited and the maturity date. You can open a CD with a minimum deposit of $1,000.00. You can pick a maturity date from 30 days to 3 years. There is no charge for the purchase of a CD. Certificates of Deposit may be automatically renewed for your convenience. All CDs must be renewed or redeemed within 10 days from the maturity date. Interest can be paid by check or can be deposited into your checking or savings account. Interest may be compounded in certain circumstances.
*There is a substantial penalty for early withdrawal.*