Certificate of Deposit
Gulf State Community Bank offers Certificates of Deposit, known as CDs, in a range of denominations for a determined period of time. The benefit of a CD is the guaranteed interest rate that stays constant throughout the term of your CD. The advantage is that compounding interest earns more money for you. If you chose, at maturity, your CD will automatically renew. GSCB has CD terms from 6 months to 3 years. A minimum of $1,000.00 opening deposit is required. Click here for rate and terms
Certificate of Deposit – CDARS
Full FDIC insurance on CD investments up to $30 million. Through the Certificate of Deposit Account Registry Service (CDARS), offered thru the Promontory Interfinancial Network, Gulf State Community Bank allows you a safe, convenient opportunity to put your cash to work. By providing you with access to up to $30 million in Federal deposit insurance coverage, CDARS can be an important and time saving investment tool
Until now, there were few ways an investor could enjoy full FDIC insurance on deposits larger than $100,000 - all that has changed.
Through CDARS, large deposits can now be placed by Gulf State Community Bank into smaller denomination CDs at multiple institutions, providing you the safety of FDIC insurance for your large deposits and the convenience of a single relationship. You earn one rate on the entire investment. The one statement you receive from Gulf State Community Bank lists all of the CD’s, along with the issuing banks, maturity dates, interest earned, and other details. Click here for rate and terms. For more information about CDARs, please visit http://www.cdars.com.
IRA’s
Gulf State Community Bank offers a 12 month IRA/CD for your retirement planning needs. $500.00 minimum opening deposit with interest compounding quarterly. Click here for rate and terms
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