Save with confidence
Thanks to the Certificate of Deposit Account Registry Service (CDARS) and a wide variety of CD products, we’re able to offer higher interest rates while still ensuring your funds are FDIC-insured.
Time Deposits (CD)
Time Deposits are designed for businesses to save money with a conservative investment that earns a higher interest rate compared to a regular business savings account.
- Minimum opening deposit: $1,000
- No service charges
- Functions like a typical certificate of deposit (CD)
- Fixed-term CD
- Competitive, fixed-rate interest
- Interest can be paid monthly in amounts $10,000 or more; partial withdrawals are accepted with a penalty
- Can be used for estate planning (e.g. payable-on-death (POD) trust)
- Can be used as collateral on loan
Using a network of participating financial institutions, you can invest at higher amounts securely — all through Central National Bank.
- Minimum opening deposit: $10,000
- All money is invested with Central National Bank
- Terms range from four weeks to five years
- Available for individuals, businesses and the public sector
- All CDARS are FDIC insured up to $50 million aggregate per customer (laddered)
- Only one 1099 form for taxes
- Competitive interest rates
- Interest paid at maturity or attained monthly, quarterly or annually
- Manage all investments through one relationship; one statement
- Security of working with a trusted local source
- Only Central National Bank has access to your information
How it works
- Enter into one agreement with Central National Bank. (Signatories change and other changes will require a new agreement.)
- Select an interest rate and a maturity based on our current CD options and rates
- Deposit funds through Central National Bank. We submit funds for placement at member banks.
- CDs are issued. (Member banks issue CDs in denominations below $250,000 so your entire investment is eligible for full FDIC insurance coverage.)
- You receive written confirmation of your deposits and a listing of all of your CDs.
Please stop by one of our many convenient branches to discuss options with our friendly and experienced Personal Bankers. You may also call our Customer Convenience Center at 580-233-3535 to speak with a knowledgeable Customer Service Representative.