A CD is a deposit product that allows you to earn a guaranteed fixed interest rate on the principal balance for a pre-defined term.
cash management
Grow your interest income
Certificate of Deposit
Earn guaranteed income using Certificates of Deposit (CD).
Help optimize your company's cash management with extra income
Earn interest on cash reserves
Gain a consistent flow of income on cash held for future operating expenses or planned purchases using CDs.
Lock-in interest rate for up to a year
Earn guaranteed interest accrued daily for the term of your CDD, with flexible maturity options, such as rolling balances into your business checking account or auto-renewalD.
Add fixed returns to your cash optimization strategy
Whether you have idle cash for a future lease build-out or next quarter's payroll expenses, you can 'ladder' multiple CDs with different maturity dates for greater flexibility while earning interestD.
- Minimum $2,500 to open and maintain a CD account, with no opening or maintenance fees
- 24/7 access to CD balances via Go by First Citizens digital banking
- FDIC insured up to the maximum allowable per the law
Explore complementary cash management products to grow your returns
Ready to talk with our team?
CD FAQs
When you have excess cash available that you don’t need immediately, you can use a CD to lock in a rate to earn interest for 1-12 months.
CD interest rates are typically higher than savings/checking account rates, so you can earn extra income on cash that you have set aside for future needs. CDs will help you mitigate the risk of inflation if interest rates go down, because your rate is locked in.
With a CD, you deposit a cash balance to earn a fixed interest rate for a fixed period of time, during which you cannot access the money. CDs give you the flexibility of terms as short as one month and up to 12 months. When the term ends at “maturity”, you can access the money. Or, take advantage of automated renewal and enable your CD to roll over until you need the funds.2 If you need to withdraw funds before the term ends, you can do so for a fee.3
Yes, a minimum of $2,500 is required to open and maintain a CD account.
You may want to earn interest on all of your cash reserves, but need access to some of it at different times. Laddering is a strategy in which you open multiple CDs with different terms. For example, you might want one CD for just 2-3 months for funds intended for payroll, a second for a 6-month term in advance of a major purchase, and a third CD to earn interest on cash for up to a year before you’re ready to build out a new warehouse or lab space.
Please contact your Relationship team for more product information and rate details.