Certificates of Deposit 


With Certificates of Deposit (CDs), a specific amount of money is deposited and guaranteed to earn a set interest rate.

For investors uncomfortable with the unpredictability of the stock market, CDs may provide the safety and competitive rates to protect investment principal and generate income they seek. CDs are most appropriate for purchasing and holding until maturity.

Certificates of Deposit are available through Northwestern Mutual Investment Services, LLC. For additional information on certificates of deposit and their features, benefits and risks, read Certificates of Deposits.



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Key Features of Certificates of Deposit

CDs offered through Northwestern Mutual Investment Services, LLC (NMIS) provide an investor with:

  • Flexibility—At maturity, automatic rollover to a new CD does not occur. You choose how to direct your investment proceeds upon maturity.

    Substantial prepayment penalties may be charged if CDs are liquidated before maturity. The dollars received upon liquidating a CD through NMIS prior to maturity are contingent upon current market conditions which may result in a loss of principal.

  • Variety—You can to choose the type of CD and maturity date that fits your needs.

  • FDIC Protection—Funds are insured by the FDIC for up to $250,000 per depositor, per institution.

  • The Federal Deposit Insurance Corporation (FDIC) covers each individual investor for $100,000 in the event of default by the institution offering the CD. This amount includes principal and interest. Due to market conditions experienced at the end of 2008, the Department of U.S. Treasury expanded the FDIC coverage limits from $100,000 to $250,000 per depositor per institution. This additional coverage is set to sunset on 12/31/2013 unless renewed by the FDIC.

Download Important Information About Certificates of Deposit which describes the types of CDs offered as well as their corresponding risks.

Types of Certificates of Deposit

A variety of CDs are available through Northwestern Mutual Investment Services, LLC (NMIS) covering a broad range of investment objectives and maturity dates. All are FDIC-insured and have an investment minimum of $1,000.

Interest Bearing CDs

Fixed Rate CDs*

  • Provide a guaranteed, fixed interest rate that is determined at purchase and remains constant for the duration of the certificate
  • Maturities range from 3 months to 10 years

Variable Rate CDs*

  • Pay a rate of interest that changes at pre-determined levels according to a specified formula or key interest rate
  • The interest rate may increase or decrease from the initial rate.
  • Maturity is typically 5 years and greater
  • May be subject to call by the issuer

Zero Coupon CDs*

  • Offered at a discount from their face amount
  • The discount is considered taxable income by the IRS and must be declared annually
  • Suited for long-term investors in Individual Retirement Accounts with tax-deferred growth
  • Interest is paid at maturity
  • Maturity may range from 5 to 20 years

Inflation Indexed CDs*

  • Helps to minimize inflation risk
  • Typically indexed to inflation on the basis of changes to the Consumer Price Index (CPI)
  • Maturities of 5 years and greater

*These investments are sold in the secondary market. The secondary market for long-term CDs may be limited. If sold prior to the maturity or call date, they are subject to price fluctuations and may be worth less than their original cost.

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You should carefully consider the investment objectives, risks, expenses and charges of the investment company before you invest. Your Northwestern Mutual Investment Services Registered Representative can provide you with a prospectus that will contain the information noted above, and other important information that you should read carefully before you invest or send money.

All securities are offered through Northwestern Mutual Investment Services LLC, (NMIS), Suite 600, 611 E. Wisconsin Avenue, Milwaukee, WI 53202, 1-866-664-7737. Member FINRA and SIPC. NMIS is wholly owned by Northwestern Mutual.