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Certificates of Deposit

Business success in central Pennsylvania can rely in part on maintaining a positive cash flow. Balancing the money coming into and out of your business can be a challenge, and extra money in your business checking accounts may not be working to make you or your company more financially successful.

Certificates of Deposit (CDs) can be an important tool in helping you to grow your assets at your business. CDs allow you to invest set amounts of money for specific terms at a fixed interest rate. You will not be able to withdraw the money before the maturity date – which can last for months or years – without incurring a penalty.

CDs from Centric Bank

Certificates of Deposit offer a stable environment for your money for an extended period of time. Maximize your earnings with terms ranging from one month to 60 months. With Centric Bank, you also enjoy CDs with additional advantages:

  • Competitive interest rates guaranteed for the entire term
  • Establish accounts with a minimum of $1,000
  • FDIC insurance for deposits up to $250,000
  • Interest reinvested or distributed monthly

The Advantages of a Certificate of Deposit for Your Business

While certificates of deposit require you to leave the funds in the account untouched for a certain time period, they do offer several advantages:

  • They may earn higher interest rates than money market accounts.
  • They give you a place to save additional money from a seasonal influx, larger order or other unexpected or expected event.
  • They give you control over when you will receive a surplus of money in the form of interest paid, allowing you to set aside money during busy periods so you have extra cash on hand during times when business is slower.
  • They prevent you and your team from spending money immediately, giving you time to create a business plan for any surplus.
  • They are an asset you can list in your annual report or budget.

Getting Started With CDs

Whether you have extensive experience in the business world purchasing large and small CDs or whether you're getting ready to buy your first certificate of deposit as a company, contact Centric Bank or visit one of our financial centers to speak with one of our team members. 

We can help you determine which savings product makes the most sense for your business. We can explain the full range of financial products available and assist you in exploring the various types of CDs which might be a good fit for your business. Our goal is the same as yours – to make your business succeed. 

As a local business ourselves, we understand how local businesses think. We always treat our business customers as part of the family and in fact we often work with and patronize the businesses who become our clients. As the only bank headquartered in Harrisburg, we take our responsibility to local business seriously. 

Local businesses appreciate it and often turn to us when their companies need financial products and services. Kim and John Taylor, owners of Rita’s Italian Ice, are clear about the difference Centric Bank can make to a local business: “Rita’s is a niche business and its reputation and great products speak for themselves. We became the owners of two Rita’s locations and have Centric Bank to thank for making this venture a reality. Coming from the banking industry ourselves, we had a unique perspective when choosing a financial institution to fund our purchase. We sought an institution that could guide us through one of the biggest decisions in our lives. A partner who could provide a community-minded approach, local decision making, personal service, and a shared commitment to meet our closing deadline. Centric was also able to provide recommendations for other local professionals who aided in our start-up, as well as additional service partners and advisors.”

We would be happy to get to know your organization and help you realize your business goals. To learn about Centric Bank's current CD specials, please contact any of our Financial Centers.