Certificates of Deposit (CDs)
The Safe Way to Grow your Savings
To open a CD, simply stop by your local branch and speak to one of our Personal Bankers.Find a Branch
Expect more than a great rate from your CD.
Lock in an APY and your term. Then, all you have to do is look forward to your interest payout at the end of that term.
Your funds are securely invested in a risk-free environment and locked in for your guaranteed term. Sit back and wait for the benefits to roll in!
CD rates generally bring in a higher rate of return than regular deposit accounts, and the best part is that you don't have to worry about stock prices.
Have your interest transferred to your checking or savings account at Central.
Know what's going on with your money.
We live and work in the same communities that you do. That means we care when you come in with questions.
What is a CD?
A certificate of deposit is a timed deposit. You deposit a specific amount of money for an agreed upon term and after the term is up, you withdraw the money along with a healthy sum of interest.
The higher the annual percentage yield (APY), the higher amount of interest you will earn on your deposit.
There is a penalty for early-withdrawal, so as long as you have a decent emergency fund, it's a fairly low-risk investment and a good way to tie up some of your funds if you're looking for a way to avoid spending in favor of saving.
What would I use a CD for?
A CD is similar to a savings account in that it earns interest and is backed by FDIC insurance. Where it differs is the flexibility of your funds. You can't make withdrawals before the term is complete without penalty.
You could use a short-term CD to save for:
- Small house projects
- Larger purchases that require a sizeable amount of cash
Start by putting your funds into a CD with a high rate of return, so when it's time to make that purchase you've got a little bit more saved than if you had placed those funds into a savings or money market account.
Compare a CD to a Savings AccountRead the Blog
Not a customer yet? Let's get you signed up.
Joining the team never felt so good. Great savings and fresh technology to manage your money.
How can we help?
Let us know the best way to reach you and one of our customer representatives will be in touch.Contact Us Open Account
© 2022 Central National Bank. All rights reserved.
Secure Page Sign-In
Ensuring the security of your personal information is important to us. When you sign in to Online Banking on our home page, your User Name and Password are secure. The moment you click the Log In button, we encrypt your user name and password using Secure Sockets Layer (SSL) technology.
Browser Security Indicators
You may notice when you are on our home page that some familiar indicators do not appear in your browser to confirm the entire page is secure. Those indicators include the small "lock" icon in the bottom right corner of the browser frame and the "s" in the Web address bar (for example, "https").
To provide the fast access to our home page, we have made signing in to Online Banking secure without making the entire page secure. You can be assured that your ID and password are secure and that only Central National Bank has access to them.
Centralnational.com is SSL-Encypted
Secure Socket Layer (SSL) technology secretly encodes (encrypts data) information that is being sent over the Internet between your computer and Central National Bank, helping to ensure that the information remains confidential.