Certificates of deposit (CDs) are low-risk savings that can increase your earnings with interest. If you leave the money alone during the investment duration, known as the “term,” we will pay you an interest rate higher than what you would have earned in a money market or checking account. All gains from CDs are taxable as income, unless they are in a tax-deferred (IRA) or tax-free (Roth IRA) account.

CDs are among the safest investment a person can make. The interest rate is determined ahead of time. Your deposit is FDIC-insured up to $250,000.

TermsMinimum balance to open
14 Days to 179 Days$2,500
180 Days to 1 Year$2,500
1 Year to 2 Years$100
2 Years to 3 Years$100
3 Years to 4 Years$100
4 Years to 5 Years$100
5 Years or Greater$100
1 Year, No Penalty$2,500

Interest is compounded daily and credited to your account based on your chosen terms. For CDs less than 30 days, interest is credited at maturity. CDs with terms longer than 30 days, interest may be credited either monthly or at maturity.

Carter Tip: Before opening a CD, make sure you have a plan for emergencies. Accessing funds from your CD prior to maturity will subject you to early withdrawal penalties.

  • 1 Up (Two year certificate that allows for one interest rate adjustment before maturity)

*For our current interest rates, please contact one of our convenient branch locations. Visit our locations page to find the branch closest to you.

The calculators on our website are provided for informational purposes only. Carter Bank & Trust and its affiliates disclaim any warranties, endorsement or representation, express or implied, related to these resources.