Certificates of Deposit
and IRA Accounts
Put your money in an insured investment with fixed interest rates and high returns. Find out more about certificates of deposit (CDs) and IRA Accounts, available at First Shore Federal.
Certificates of Deposit
and IRA Accounts
Put your money in an insured investment with fixed interest rates and high returns. Find out more about certificates of deposit (CDs) and IRA Accounts, available at First Shore Federal.
Get Your Free Quote
Fill out the form below to see current rates and minimum balances for investing in a CD or IRA account. One of our bank representatives will get back to you shortly!
CDs offer locked-in interest rates, often greater than rates in other savings accounts.
First Shore Federal is here to help you find the certificate of deposit or IRA account that’s right for you. Read more about our flexible accounts with low minimum opening balances and varying maturity dates.
Regular CDs
A certificate of deposit (CD) offers the security of FDIC insurance while fixing a competitive interest rate for a term you choose. Decide on a maturity date between 3 months to 5 years for this certificate that offers automatic renewal.
- $500 minimum opening balance
- Terms available from 3 months to 5 years
- Interest credited quarterly
- Interest payments and checks are available
- Non-IRA certificates may be pledged as collateral for a share loan
- CDs automatically renew
Rising Rate CDs
This certificate of deposit offers the option of increasing the interest rate once during the term to our current interest rate being offered at that time.
- $500 minimum opening balance for most terms
- $10,000 minimum opening balance for 24-month Rising Rate CD
- Choose a term of 18, 24, or 60 months
- Interest credited quarterly
- Interest payments and checks are available
Rising Rate CDs
This certificate of deposit offers the option of increasing the interest rate once during the term to our current interest rate being offered at that time.
- $500 minimum opening balance for most terms
- $10,000 minimum opening balance for 24-month Rising Rate CD
- Choose a term of 18, 24, or 60 months
- Interest credited quarterly
- Interest payments and checks are available
Freedom CD
Invest in the Freedom CD for a little extra leeway with your funds. Withdraw principal and interest funds once during the term without incurring a penalty.
- $500 minimum opening balance
- 10 month term
- Interest credited quarterly
Add To CD
With a low minimum opening balance, the Add To CD is a good investment if you’re just building a nest egg or helping your children to begin saving.
- $200 minimum opening balance
- 12 month term
- Make additional deposits anytime during the term
- Interest credited at maturity
Add To CD
With a low minimum opening balance, the Add To CD is a good investment if you’re just building a nest egg or helping your children to begin saving.
- $200 minimum opening balance
- 12 month term
- Make additional deposits anytime during the term
- Interest credited at maturity
Coverdell Education Savings Plans
Start investing with this valuable tool that helps you save for a child’s education. Save for college or K-12 expenses like books, tutors, and more!
- Annual contribution limit of $2,000 for each child*
- Invest the funds in any of our IRA CD terms
- Tax-free distributions and tax-free earnings*
| Tax Year | Under Age 50 | Over Age 50 |
|---|---|---|
| 2021 | $6,000 | $7,000 |
| 2022 | $6,000 | $7,000 |
IRA Accounts
Open an IRA account at First Shore Federal to begin saving for retirement. Talk with one of our representatives about the tax benefits these accounts can offer or about rolling over a current 401K plan.
- Traditional and Roth IRA plans available
- We can assist you when transferring an IRA or a rollover from a previous employer’s retirement plan
- Open a variable rate IRA with as little as $25 and make regular contributions anytime during the term*
Small Business Retirement Plans
First Shore Federal supports local small businesses by helping them reward their employees with flexible and affordable retirement plans. Contact us today to learn more!
- SIMPLE (Savings Incentive Match Plan for Employees)
- SEP (Simplified Employee Pension)
* Coverdell Education Savings and IRA contributions may be limited based on income and age restrictions. Seek the advice of a legal or tax professional regarding your specific tax situation.
We will accept deposits from residents of the Eastern Shore of Maryland, Virginia’s Eastern Shore and lower Delaware. Please visit any of our branch locations to open an account.