Home personal savings Certificates of Deposit

Certificates of Deposit Photo Certificates of Deposit

Let Your Money Grow Securely in a CD Account

Central Bank offers savings growth options in the form of Central Bank Certificates of Deposit, also known as CDs. For discerning customers looking for a balanced portfolio with a nest egg of security, CDs can be the right investment tool. This is particularly true for our mature customers who need to shift their savings toward modest growth, high-security portfolio strategies.

These savings tools allow you to deposit a larger amount of money with us to earn interest and grow over time. While access is restricted, you can have the peace of mind that your money is protected as it grows.

CD Options at Central Bank

Central Bank offers three different types of CDs, each with their own benefits and terms:

Fixed-Rate Certificates of Deposit

  • Who’s it for? Individuals and businesses that have excess funds to invest, will not need access to the funds for the term chosen, and are looking to earn a higher rate of interest than a regular savings account.
  • $500 minimum to open
  • Issued for standard terms of 3, 6, 12, 18, 24, 30, 36 and 48 months
  • Automatically renewable with 10-day grace period
  • Interest rate determined based on original opening deposit:
    • $500 - $9,999
    • $10,000 - $24,999
    • $25,000 and above

CD Plus Certificates of Deposit

  • Who’s it for? Individuals and businesses that have excess funds to invest and will not need access to the funds for the term.  As an alternative to a fixed interest rate investment, the CD Plus is for the customer looking to earn a higher rate of interest than a regular savings account and anticipates benefiting from rising interest rates.
  • $500 minimum to open
  • $50 minimum additional deposits allowed during term
  • Original maturity date remains the same after additional deposits
  • Issued for 12-month term
  • Automatically renewable with 10-day grace period

Rule Breaker Certificates of Deposit

  • Who’s it for? Individuals who have excess funds to invest and will not need access to the funds for the term chosen.  As an alternative, the Rule Breaker CD is for the customer looking to earn a higher rate of interest than a regular savings account and wants maximum control of their money.
  • $5,000 minimum to open
  • $1,000 minimum additional deposits allowed during term
  • Original maturity date remains the same after additional deposits
  • Issued for 18 or 30-month terms
  • One-time interest rate ‘bump-up’ option available during the initial term only
  • 50% of initial deposit available for withdrawal without early withdrawal penalty during initial term only
  • Active Central Bank checking account is required.
  • Automatically renewable with 10-day grace period
  • Upon renewal, all features and early withdrawal penalty convert to terms of the 18 or 30-month fixed rate CD, based on initial term chosen

You can get the full details and disclosures for any of our CD accounts by calling or coming by any Central Bank location.

Early withdrawal penalties may apply and fees may reduce earnings.

Is there a minimum to open an account?

Yes. There is a $500 minimum to open most CD accounts and $5,000 minimum to open a rule breaker account.

Alicia Hale's Image

Alicia Hale

Branch Manager II | NMLS#950194

Location: Des Moines Drake Branch

Work Phone: (515) 279-8090

Amy Chace's Image

Amy Chace

Vice President, Branch Manager II

Location: Sioux City Hamilton Branch

Work Phone: (712) 233-2929

Brian Dooley's Image

Brian Dooley

Branch Manager II | NMLS#1444041

Location: Waukee Main Office

Work Phone: (515) 987-2299

Brittny Brunning's Image

Brittny Brunning

Branch Manager I

Location: Storm Lake North Branch

Work Phone: (712) 732-1919

Dustin Pohlman's Image

Dustin Pohlman

Assistant Vice President, Branch Manager II | Assistant Cashier

Location: Spirit Lake Main Office

Work Phone: (712) 336-4100

Hilary Budde's Image

Hilary Budde

Personal Banker II/Head Teller

Location: Sioux City Hamilton Branch

Work Phone: (712) 233-2929

Jennifer Brown's Image

Jennifer Brown

Branch Manager II | NMLS#1138317

Location: Ankeny Main Office

Work Phone: (515) 473-7033

Jenny Yates's Image

Jenny Yates

Personal Banker II/Head Teller | NMLS #1609835

Location: Sioux City Morningside Branch

Work Phone: (712) 276-3135

Judy Ploeger's Image

Judy Ploeger

Senior Vice President, Central Iowa Branch Operations Manager

Location: Waukee Main Office

Work Phone: (515) 987-2299

Julie Dhabalt's Image

Julie Dhabalt

Personal Banker I/Head Teller

Location: Cherokee Main Office

Work Phone: (712) 225-2546

Nancy George's Image

Nancy George

Personal Banker II

Location: Sioux City Main Office

Work Phone: (712) 293-2265

Stacy Meyer's Image

Stacy Meyer

Personal Banker I/Emerald Club Director

Location: Storm Lake Main Office

Work Phone: (712) 732-2190

Steve Boden's Image

Steve Boden

Vice President, Cash Management Manager

Location: Sioux City Main Office

Work Phone: (712) 293-2265

Tim Matasovsky's Image

Tim Matasovsky

Personal Banker II

Location: Sioux City Main Office

Work Phone: (712) 293-2265

William Boord's Image

William Boord

Assistant Vice President, Branch Manager II | NMLS#523274

Location: Urbandale Main Office

Work Phone: (515) 254-9000

Share

Share this on social media

  • Facebook
  • Email Us
Close

By clicking the social media icons you will be leaving the Central Bank website. We are not endorsing or guaranteeing the products, information or recommendations provided by the organizations linked to our website. We are not liable for any failure of products or services advertised on those sites. We are not responsible for the validity, collection, use or security of information by organizations that may be linked to our website. We encourage you to read the privacy policies of websites reached through the use of links from the Central Bank website.

You are now leaving Central Bank

You are leaving the Central Bank website. We are not endorsing or guaranteeing the products, information or recommendations provided by the organizations linked to our website. We are not liable for any failure of products or services advertised on those sites. We are not responsible for the validity, collection, use or security of information by organizations that may be linked to our website. We encourage you to read the privacy policies of websites reached through the use of links from the Central Bank website.

Would you like to continue?

Continue Cancel