Government CDs

Government Certificates of Deposit

Local Governments may invest their excess funds in Pennstar Bank's Government Certificates of Deposit with maturities anywhere from seven days to several years, depending upon their cash flow needs. Interest on Government CDs is calculated on an actual 360 day basis and payable at maturity. Government CDs can be opened over the phone by calling the local office of Pennstar Bank.

Rates quoted on Government CDs are subject to change throughout each day, based on market conditions and collateral availability. Once a CD is opened, the rate is fixed until the CD matures. At maturity, a CD can be either credited to the customer's account or held pending the customer's instructions.