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You are now leaving the Independent Bank website.

Linked web pages are not under the control of Independent Bank, its affiliates or subsidiaries. Be aware the privacy policy of the site to which you are going may differ from that of Independent Bank. Independent Bank provides external links as a convenience and is not responsible for the content, accessibility, or security of any linked web page.

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CERTIFICATE OF DEPOSIT

 

Start saving with our
CD
specials!

4.92% APY*

3-month CD
$10,000 minimum of newly deposited funds & an IB checking account

Ready to get started?Open an Account

4.24% APY*

11-month CD
$1,000 minimum & an
IB checking account

Ready to get started?Open an Account


What is a CD?


A CD or certificate of deposit is an account that typically offers you a higher rate of return than a traditional savings account in exchange for depositing your money into a bank account for a fixed period of time, also referred to as a term. You may receive an early withdrawal penalty on your earnings if you withdraw your funds before the term is complete.

How do CDs work?


The total amount of interest you earn on a CD is determined by the term length and your initial deposit. Typically, the longer your term length and the greater your deposit, the higher the interest you’ll earn. Different CD products offer you different term length options and require different initial deposits. CD accounts are FDIC insured.

Terms, Minimums, & more


CDs come in varying terms and may require different minimum balances. The rate you earn typically varies by the term and how much money you have in the account. Generally, the longer the term and the more money you deposit, the higher the rate you are offered.

Interest Rate vs. APY


With a CD, just like a savings account, you earn compound interest—meaning that periodically, the interest you earn on your balance is added to your principal. This new total amount then earns interest of its own. The interest rate represents the fixed rate you receive, while the Annual Percentage Yield (APY) refers to the amount you earn, considering compound interest.


CERTIFICATE OF DEPOSIT (CD)

Interest Tier Information

Rate

APY

3-Month CD Special

$10,000 minimum of newly deposited funds

4.80%

4.92%

11-Month CD Special

$1,000 minimum 4.15% 4.24%

3-Month CD Special

Interest Tier Information - $10,000 minimum of newly deposited funds
Rate -

4.80%

APY - 4.92%

11-Month CD Special

Interest Tier Information - $1,000 minimum
Rate - 4.15%
APY - 4.24%

CD Specials require an Independent Bank checking account. These rates only apply to personal CDs.

Interested in a different CD account?
Click here to see other rates!


Ready to open a CD?

Get Started

 

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*APY: Annual Percentage Yield. APYs are effective as of 02/14/2024, and are subject to change without notice. Interest will be compounded monthly and will be paid to the account monthly. Deposits into or withdrawals from the CD are not available until the maturity date. Penalty for early withdrawal may be imposed. ^CD: Certificate of Deposit.