Certificates of Deposit

Articles

• Are CDs FDIC-insured?
  Yes — CDs at FDIC-member banks are insured up to $250,000 per depositor, per bank, per ownership category.
• How Do CDs Work at RMO?
  A certificate of deposit (CD) is a savings product where you deposit a fixed amount for a set period of time in exchange for a guaranteed annual percentage yield (APY).
• Should I ladder my CDs?
  CD laddering splits your deposit across staggered maturities so you get regular access to cash while still capturing longer-term rates.
• What CD Products Does RMO Offer?
  RMO Bank offers a range of certificate of deposit (CD) products to help you lock in competitive rates and grow your savings on a predictable schedule.
• What happens if I withdraw from a CD before maturity?
  Withdrawing early usually triggers an early-withdrawal penalty — typically a set number of months of interest — and in some cases can dip into principal.
• What Happens When My CD Matures?
  When your RMO CD reaches its maturity date, you have several options. RMO will notify you through MyRMO and via email approximately 15 days before maturity so you can plan ahead.
• What Is a CD Ladder and How Does It Work?
  A CD ladder is an investment strategy that divides your deposit across multiple CDs with staggered maturity dates.
• What is the difference between APY and APR on a CD?
  APY reflects what you actually earn including compounding; APR is the simple annual rate before compounding — for CDs, compare the APY.