Certificates of Deposit
Our Certificates of Deposit (CDs) are an excellent tool for managing your money when you're able to set aside funds for a period of time. With a CD, you maximize your interest rate and enjoy the availability and security of FDIC insurance.
12 Month CD
- $1,000 minimum to open
- Interest credited or compounded quarterly, semi-annually or annually; interest check monthly, quarterly, semi-annually, or annually
- Penalty for early withdrawal
26 Month CD
- $1,000 minimum to open
- Interest credited or compounded quarterly, semi-annually or annually; interest check monthly, quarterly, semi-annually, or annually
- Penalty for early withdrawal
48 Month CD
- $1,000 minimum to open
- Interest credited or compounded quarterly, semi-annually or annually; interest check monthly, quarterly, semi-annually, or annually
- Penalty for early withdrawal
Short Term CD
Overview
- Easy to invest and easy to understand
- Interest credited or check at maturity
- Customer chooses term of 32 days thru 11 months (see rates for current offering terms)
- Meets investment needs with affordable options
Features and Benefits
- Personal and business accounts
- Maturity date and interest rate determined at time CD is opened; rate is guaranteed for term
- CD renews automatically on maturity date at current rate for term involved
- Flexible investment terms
- Affordable
- Higher Rate of Interest
Terms and Conditions
- Maturity notice is mailed to customer approximately 10 days prior to maturity date
- Customer has 10-day grace period from maturity date
- Penalty for early withdrawal (one month's interest)
- See interest rates for minimum to open
- APY is based on compounding at maturity unless noted differently on interest rate sheet
Long Term CD
Overview
- Easy to invest and easy to understand
- Interest credited, compounded, or interest check monthly, quarterly, semi-annually or annually (quoted quarterly on interest rate sheet)
- Customer chooses term
- Meets investment needs with affordable options
Features and Benefits
- Personal and business accounts
- Maturity date and interest rate determined at time CD is opened; rate is guaranteed for term
- CD renews automatically on maturity date at current rate for term involved
- Flexible investment terms
- Affordable
- Higher rate of interest
Terms and Conditions
- Maturity notice is mailed to customer approximately 10 days prior to maturity date
- Customer has a 10-day grace period from maturity date
- Penalty for early withdrawal (three month's interest)
- APY is based on compounding quarterly unless noted differently on interest rate sheet
- Minimum to open may vary depending on term
Flex CD
Overview
- A unique certificate that allows you to create an automatic savings plan by making subsequent deposits
- Interest credited or compounded monthly or paid by check at maturity
- Choose term of 7, 8, 9, 10 or 11 months (customer chooses term)
- Subsequent minimum deposits of $500 (subsequent deposits are not allowed within the last 30 days prior to maturity)
Features and Benefits
- Personal and business accounts
- $5,000 minimum deposit to open
- Enroll for automatic debits from another bank account to fund subsequent deposits
- Short term allows flexibility
- Affordable
- Maturity date and interest rate determined at time CD is opened; rate is guaranteed for term
- CD renews automatically on maturity date at current rate for term involved
- Can make additions of $500 or more up to the last 30 days prior to maturity
Terms and Conditions
- Maturity notice is mailed to customer approximately 10 days prior to maturity date
- Customer has a 10-day grace period from maturity date
- Penalty for early withdrawal (one month's interest)
- Can make additions of $500 or more up to the last 30 days prior to maturity
- $5,000 minimum deposit to open
Availability
- Available at all Banterra locations
- Personal and business available
- Current interest rates available here
Banterra's Freedom CD
- 15 month term
- $25,000 minimum opening balance
- Can make additional deposits up to 30 days prior to maturity: $1,000 minimum
- Can make one, penalty-free withdrawal during term, balance cannot drop below $10,000 when making withdrawal
- 3 month penalty for early withdrawal (if non-qualifying for penalty-free withdrawal)
Banterra's Bump Up CD
- 48 month term
- $10,000 minimum opening balance
- One time during the term of the CD the customer can request that the interest rate can be "bumped up" to whatever the current stated rate for that product is
- 6 month penalty for early withdrawal
