Step One. Choose the certificate that’s right for you
When you’re ready to save, we offer a variety of flexible options to help you achieve your goals.
- Our fixed-rate certificate terms range from 30 days to 120 months
- For tax-deferred certificate savings, our fixed-rate term is 12 months
- The standard term for variable rate certificates is six months, but you can make unlimited deposits of $100 or more during the term without extending the maturity date
- Call Certificates are available for either a 24 month or 60 month term
We also make it easy to open an ESL Certificate with these affordable minimum balance requirements:
- For terms from 6 to 120 months, the minimum deposit is $500
- For 31-day terms, the minimum deposit is $1,000
Step Two. Decide what to do with your money when your certificate matures.
The maturity date is when your certificate reaches the end of its term. You will receive a maturity notice before your maturity date. When that happens, you have a seven-day grace period beginning on your maturity to make any changes, such as you can:
- Do nothing and your certificate with automatically renew at the dividend rate in effect on that date
- Add more money to your certificate account
- Change the term of your account
- Close the account and withdraw your money
- Withdraw some of the money from your certificate account
Step Three. Decide what you want to do with your dividends.
At ESL, there are many ways to take advantage of the dividends you earn on your certificate. You can decide when you open your account to:
- Automatically reinvest your dividends into your certificate account
- Automatically transfer your dividends to another ESL account
- Withdraw your dividends at any time … without penalty
