Certificates of Deposit (CDs)

Grow Savings Safely With Central State Bank’s CDs

A certificate of deposit is a high-interest savings account designed for steady growth and income. You choose a set term, lock in a guaranteed fixed interest rate, and watch your balance build with low risk.

At Central State Bank, you pick the CD term that fits your plan. Our accounts feature flexible term options, a fixed rate for the life of your CD, and the assurance that your earnings will remain stable, unaffected by market fluctuations.

How a CD Works

  1. Open and fund: Start your CD with a lump-sum deposit.
  2. Fixed term and rate: Keep your money in place for the selected term and earn a fixed interest rate for that entire period.
  3. Accrued Interest: With Certificates of Deposit, interest does not compound daily. Instead, it typically compounds every 6 months, allowing your balance to grow steadily over time.
  4. Maturity: At term end, access your principal plus accrued interest or roll it into a new CD.
  5. Early withdrawal penalty: Taking money out before maturity usually triggers a penalty that can reduce earnings. Plan your timeline carefully to keep your full return.

Picking the Right Term

Shorter terms can be useful for near-term goals. Longer terms can help maximize total interest over time. Many savers build a CD ladder by opening multiple CDs with staggered maturities. This approach provides periodic access to funds while aiming for competitive yields on longer terms.

Rates, Minimums, and Details

Current CD rates, available term lengths, minimum deposit requirements, and annual percentage yield are updated regularly. For the latest information, contact your local Central State Bank branch or view the CD rates page on our site. A banker can help you compare options and calculate projected earnings based on your target timeline.

CDs vs. Money Market Accounts

A Money Market account offers liquidity with competitive variable rates and easy access to your funds. A CD provides a fixed rate for a set term and typically a higher yield than standard savings.

If you want flexible access to your funds during your savings period, explore our Money Market Accounts. If you prefer a fixed return, a CD can be a strong fit.

Secure, Convenient Banking

Manage accounts with online and mobile banking, get balance updates anytime, and rely on 24-hour telephone banking for quick help. Central State Bank pairs modern tools with personalized service so you can save with clarity and confidence.

Why Choose a Central State Bank CD

  • No maintenance fees
  • Higher yields than standard savings accounts
  • Guaranteed fixed rate of return
  • Flexible CD terms based on your goals
  • Automatic renewal at the rate in effect at maturity
  • Secure online and mobile banking access
  • 24-hour telephone banking support

A CD can complement an existing portfolio or serve as a smart first step into personal investing. Set a goal, select the term, and let your funds compound.

Ready to Open Your CD?

Open a Central State Bank certificate of deposit to secure fixed CD rates, flexible terms, and guaranteed growth. Learn about term lengths, minimum deposits, APYs, and start building reliable savings today with a CD plan designed to help your money grow securely.

 

Frequently Asked Questions

You can withdraw your principal and interest or allow your CD to renew automatically at the rate in effect at that time.
CDs are typically single-deposit accounts. However, with our CDs, you have the flexibility to make one additional deposit during the term. Many savers also choose to open additional CDs to continue building their ladder.
Yes, early withdrawals usually incur a penalty that reduces earnings. Review disclosures before opening.