A Business CD is a smart way to secure your bottom line with fixed terms and competitive interest rates. Our branches in Henning, Ottertail, Battle Lake, Evansville, and Detroit Lakes are dedicated to helping your business reach its financial goals. Start investing for your business savings by opening a Business Certificate of Deposit (CD) at My Kind of Bank. Our local agents are ready to guide you every step of the way.
Key Features
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Competitive, Fixed Interest
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Wide Range of Terms
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Automatic Renewal
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Guaranteed Returns
Details
- Fixed interest, higher than regular savings accounts
- Rate increases along with the length of the term
- More guarantee than other risky investments
- Wide range of terms available (from 3 months to 5 years)
- Subject to penalty upon early withdrawal
- Renews automatically upon maturity
- $500 minimum deposit to open
CDARS®
FDIC insurance doesn't have to stop at $250,000. CDARS offer full FDIC insurance for all CDs over $250,000. Plus, we handle the management of your CDs on our end. That way, you gain better rates and peace of mind without inheriting the workload to match.
- Earn competitive rates, higher than regular savings, which may compare favorably with other investment alternatives
- Greater security; multi-million dollar FDIC insurance coverage
- Convenience; everything is managed internally by 1st National Bank:
- One interest rate
- One regular statement
- One year-end tax form
- Flexible maturity periods available
- Helps support lending opportunities within your local community
