Certificate of Deposit

Enjoy a guaranteed return on your investment with a CD from Flanagan State Bank. CDs offer a risk-free way to grow your funds without worrying about the ups and downs of the stock market.

The way it works is easy: simply choose your term and then lock in your rate. Interest rates are based on your term and, when your term is up, you will receive an increase in funds.

Current Rates

Rates effective as of 11/17/2023.

*APY = Annual Percentage Yield
**Interest rate is variable and may change after the account is opened.
See account disclosures for additional account information.

PLEASE NOTE:  APY assumes interest remains on deposit.  A withdrawal or fees could reduce earnings.  A penalty will be imposed for early withdrawal.  Rate changes are made at the Bank’s discretion.  Rates are subject to change without notice.

Relationship Special

Available to customers with an active checking account with Flanagan State Bank

TermMinimum Deposit to Open & Obtain APY*Interest RateAPY*Interest FrequencyEarly Withdrawal Penalty
12 Month$10,000.004.91%5.00%91 Days 91 Days

Large Depositor Special

TermMinimum Deposit to Open & Obtain APY*Interest RateAPY*Interest FrequencyEarly Withdrawal Penalty
6 Month$50,000.004.67%4.75%91 Days91 Days
6 Month$100,000.004.91%5.00%91 Days91 Days
6 Month$250,000.005.15%5.25%91 Days91 Days

Standard Certificates of Deposit

TermMinimum Deposit to Open & Obtain APY*Interest RateAPY*Interest FrequencyEarly Withdrawal Penalty
1 Month$50,000.00 2.30%2.32%30 Days30 Days
3 Month$5,000.00 0.90%0.90%91 Days91 Days
6 Month$1,000.00 1.41%1.42%91 Days91 Days
9 Month$5,000.00
1.45%1.46%91 Days91 Days
12 Month$500.001.73%1.74%91 Days91 Days
18 Month$5,000.00 1.65%1.66%91 Days182 Days
24 Month$1,000.00 1.62%1.63%6 Months182 Days
36 Month$1,000.00 1.60%1.61%6 Months365 Days
60 Month$1,000.00 1.56%1.57%6 Months365 Days

What is a Certificate of Deposit?

A certificate of deposit (CD) is a type of personal savings account. The distinguishing feature of CDs is that you commit to leaving a certain amount of money in your account for a predetermined period of time. Terms vary from a 30-day CD to a 5-year (60 month) CD. In exchange for committing to a term, you can earn a higher interest rate on your savings; generally, the longer the term the higher the interest rate. CDs are also insured by the FDIC up to $250,000.

Benefits of a Certificate of Deposit

  • Guaranteed return on your investment
  • Choose terms that range from a 30-day CD to a 5-year (60 month) CD
  • Longer terms yield higher rates of return
  • Automatic renewal for your convenience
  • Penalty for early withdrawal
  • After maturity, enjoy a 10-day grace period to withdraw funds without penalty
  • Minimum opening deposits as low as $500

When to choose a CD

Is a CD the best savings account option for you? A certificate of deposit may be the right option if you know you can commit to leaving the balance alone for the term period. Otherwise, you could face fees for early withdrawal. If you do think you might need to touch your savings occasionally, it could be better to go with our Kasasa Saver, Personal Savings, or Money Market Investment Account. All three options offer penalty-free access to your funds.

Open a new CD account today!

Want to learn more about Certificates of Deposit or ready to open a new CD or other savings account? Set up a new CD account consultation by contacting us, visiting your nearest location or applying via the simple and secure portal below!

Apply For A New Account