Certificate of Deposit

Certificates of Deposit

First Farmers & Merchants Bank offers the most flexible approach to investing with Certificates of Deposit with a minimum of $1,000: First Farmers offers CD's from seven days to five years.


  • Depositors insured by the Federal Deposit Insurance Corporation.
  • Principal may be withdrawn before maturity with an interest penalty.
  • Interest may be paid to you by check or can be credited to your First Farmers checking or savings account.

Certificate of Deposit Rates

Term Minimum Deposit to Earn APY Interest Rate Annual Percentage Yield
91 Day $10,000 0.05% 0.05%
182 Day $10,000 0.15% 0.15%
1 Year $10,000 0.25% 0.25%
2 Year $10,000 0.30% 0.30%
3 Year $10,000 0.35% 0.35%

Chairman's Club members receive a higher rate of interest.
*Rates effective April 15, 2014

The minimum balance to open an account and obtain the annual percentage yield is $10,000. A penalty may be imposed for early withdrawal. Annual percentage yields are accurate as of April 15, 2014.

Please contact any Customer Service Representative for all CD terms and rates.


HealthGuard® Certificates of Deposit

Investors whose health concerns make them hesitant to buy certificates of deposit can purchase HealthGuard® Certificates of Deposit at First Farmers & Merchants Bank.

HealthGuard® CD's allow investors to withdraw funds without interest penalty in the event of a medical emergency.


  • Depositors are insured by the Federal Deposit Insurance Corporation.
  • HealthGuard® rates are identical to regular bank CD rates.
  • The bank reserves the right to require proof of illness.
  • Penalty may be imposed for withdrawals in the first six days.