CDs can be a great investment option for getting a good guaranteed rate for a specific period of time.  When you don’t need on the spot access to your funds, bank CDs can be very attractive to you especially with the top rates being offered by Florida’s Riverside Bank.  The interest rate on these bank CD are locked for the term of the CD and knowledge that the principal is safe and secure should provide a strong sense of security for your investments.  In this economic recession, it would be wise to benefit from high rates like Riverside Bank provides, as an essential additional source of income.

Riverside Bank allows you to choose from a variety of checking and savings accounts along with their attractive CD rate specials.  The CD specials including a 19 month CD earning an interest rate of 3.90% APY, a 24 month CD with an interest rate of 3.95% APY, and a 30 month that has an interest rate of 4.00% APY.

Riverside Bank also offers a charming “5,4,3” 12 month CD special.  This is a tiered rate CD in which the rate is tiered in descending order.  This is a one-year CD that has an APY of 3.47% for the term of the CD.  The interest rate on your account is 4.826% with an annual percentage yield of 5.00%, the account holder would be paid this rate for thirty days.  The interest rate will be 3.875% for the second, third and fourth month of the CD term.  The interest rate will be 2.92% for the fifth month to the maturity of the CD. Hence, the 5,4,3 interest rate structure on the CD.

Additional bank services available include Riverside’s money market account, which offers competitive interest rates making for a perfect account to develop your CD interest, dividends, social security payments, and pension payments.  The money market account features high interest rates, the ability to withdraw funds, free online banking, FDIC insurance, and interest is compounded daily.  

Interest rates subject to change, additional conditions may apply.  The bank’s website can be found at www.riversidegc.com.  For contact by phone: 1-800- 316-6541.

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