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Certificates of Deposit

In today's world, there are literally thousands of different ways to invest your money. However, very few are as safe, sound and straightforward as a Central State Bank certificate of deposit.

Sometimes referred to as a "time deposit," a CD is essentially a contract between you and the bank. You agree to invest your money for a specific period of time --- say six months, a year or longer. In return, the bank agrees to pay you a higher rate of interest than a savings or money market account; in general, the longer the time period, the higher the interest rate. If you break the contract and take your money out ahead of time, you'll pay an "early withdrawal penalty" that may range from 3 to 12 months loss of interest, depending on the term of your CD.

Our certificates of deposit are easy to open, they're extremely safe (FDIC-insured), and you can get started with an investment of just $500. Here are a few key features of our most popular types of CDs.

Our single most popular deposit product in terms of total dollars invested! Short, intermediate or long term --- whatever your investment goals might be, we have a fixed rate CD that can help you achieve your goals.
  • Available to all consumers
  • $500 minimum to open and minimum balance requirement
  • Your choice of a full range of terms from 3 months to 60 months
  • Additional deposits not permitted during the term
  • Withdrawals during the term subject to an early withdrawal penalty
  • Withdrawals at maturity (at the end of the term) permitted without penalty
  • Interest rate fixed upon opening for the entire term
  • Earnings can be compounded (added back into CD) or transferred to your checking or savings account
  • Maturity reminder mailed to you prior to the end of the term
  • Automatically renewable at maturity at the then-current interest rates

For further information including current interest rate and Annual Percentage Yield (APY) information, click on the "Get Started Now" box to the left.

From time to time, we offer "CD Specials" --- certificates of deposit with special interest rates, terms or other unique features. They're often developed to help us match up the bank's source of funding (deposits) with the demand for loans. To check for availability, contact any Central State Bank location.