Certificates of Deposit

Certificates of Deposit Details

Certificates of Deposit (CDs) and IRA CDs allow you to earn a higher return for your money and because our CDs are customized for you, you select the best option for your financial goals. This means you can choose a specific length of time for the term. Then your Banker will work with you on the custom interest rate that best fits your needs. Visit a Relationship Banker to open your custom CD soon! 

• Minimum balance requirements of $1,000 to open a CD or an IRA CD and to earn interest. 
• Guaranteed interest rate for the length of the certificate term.
• Must maintain the minimum balance to earn interest.
• Automatically renews at Standard Renewal Rate.
• Customizable CD terms are greater than 182 days.
• Customizable IRA CD terms are greater than 12 months.
• Terms available up to 60 months.
• May be used as collateral for loans.
• FDIC Insured.**
• The disclosed annual percentage yield assumes that interest will remain on deposit until maturity. There may be a penalty for early withdrawal. Fees or withdrawals of interest will reduce earnings.

**Each depositor insured to at least $250,000.

A certificate of deposit can create a stable foundation to your savings strategy. With a locked-in APY for the entire term, you're guaranteed account growth no matter what happens to variable rates.

Itasca Bank & Trust Co. offers a range of CD term lengths from 30 days to 60 months. Choose the option that makes sense for your savings timeline, whether you're planning a major purchase in a few months or in several years.

Savings tip: A CD savings method that offers a balance of liquidity, risk management, and interest rate optimization is called laddering. To create a CD ladder, divide your investment into multiple certificates of deposit (CDs) with staggered maturity dates. Instead of putting all your money into one CD, you spread it across several CDs that mature at different intervals (e.g., 1 year, 2 years, 3 years, etc.)