Business Certificates of Deposit


 

Consider Certificates of Deposit to invest business funds you do not expect to need on short notice. They offer higher interest rates in return for a commitment to set aside your money for a specific length of time. Your principal and interest are FDIC insured up to $250,000.

All of these products can be accessed with Online Banking, Cell Phone/PDA Banking, and Telephone Banking. 
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Consider Certificates of Deposit to invest business funds you do not expect to need on short notice. They offer higher interest rates in return for a commitment to set aside your money for a specific length of time. Your principal and interest are FDIC insured.


Certificates of Deposit
TypeMinimum to obtain APYRateAPYCompounded
7-31 Day$1,0000.16%0.16%Maturity
3 Month$1,0000.25%0.25%Maturity
6 Month$1,0000.45%0.45%Maturity
9 Month$1,0000.50%0.50%Maturity
12 Month$5000.75%0.75%Quarterly
18 Month$5000.75%0.75%Quarterly
20 Month$1,0000.75%0.75%Quarterly
24 Month$5001.05%1.05%Quarterly
36 Month$5001.25%1.26%Quarterly
48 Month$5001.50%1.51%Quarterly
60 Month$5001.80%1.81%Quarterly
72 Month$1,0001.90%1.91%Quarterly
*APY is Annual Percentage Yield. Rates are as of 09/02/10 and are subject to change. Penalty may be imposed for early withdrawal.

 

First Michigan Bank is participating in the FDIC Transaction Account Guarantee Program