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 or business can make. The interest rate is determined ahead of time. Your deposit may be 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




Interest is compounded daily and credited to your account based on your chosen terms.  Interest credited monthly or quarterly on the anniversary date. Accessing funds from your CD prior to maturity will subject you to early withdrawal penalties. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate daily. Fees may reduce earnings.

Carter Tip: Before opening a CD, make sure you have a plan for emergencies.

Click here for current rates.

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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.

Fees may reduce earnings.