Certificate of Deposit (CD) Accounts

Leave uncertainty behind with a steady-rate CD account

Lock it in and let it grow

With fixed interest rates and terms ranging from months to years, our CD accounts are a great way to save money you don't need right away.

Even higher rates

Qualify for even higher rates than traditional savings accounts with longer-term CDs.

Choose your terms

Select from a variety of CD terms with varying rates of return.

Stable earnings

Earn a steady, fixed rate by locking your funds until the maturity date.

CD savings strategies

CD Saving Strategies

Depending on interest rates, certificates of deposit, or CDs, may offer an appealing blend of competitive returns and low risk.

Compared to traditional savings accounts—which prioritize ongoing access to funds over rate of return—CDs operate a bit differently. They offer a highly competitive interest rate but have a set maturity date. That's the future date when you'll get back your investment plus any interest earned.

You choose the term that's right for you—from 6 months to 5 years. During that period, your funds will grow steadily, but you won't be able to access them without penalty. This can be ideal for long-term savings goals.

However, if you're like most people, you probably have multiple goals in sight—from short-term goals, like saving for a vacation, to those that are a few years off, like saving for a down payment on a home.

This is where CD investing strategies may come in handy. CD ladders, barbells and bullets are three ways to maximize your returns, while also giving you a bit more flexibility. But which strategy is right for you?

CD ladders offer the best of both worlds: periodic access to your money, along with long-term growth potential.

Laddering involves opening multiple CDs with different term lengths—say 1, 2 and 3 years. When each CD matures, you can reinvest the money or use it for a major expense—the choice is yours.

Depending on your goals, a CD barbell is another strategy to consider.

This involves splitting an investment into two CDs—one short-term and one long-term. This can be particularly helpful if you want to lock in an attractive long-term rate but still keep a portion of your funds accessible for short-term needs.

And then there's the bullet strategy. This involves investing in multiple CDs at different times but all with the same target maturity date.

The bullet strategy works well for targeted goals—like saving for your wedding. It's also a good fit for those who need to save gradually over time.

All three of these strategies can be powerful ways to save for future goals. Just make sure you choose the right term length to avoid early withdrawal penalties.

If you're unsure which savings vehicle or CD term is right for you, talk to a banker.

They can help you evaluate your personal finances and come up with a plan that fits your unique goals.

To learn more, visit FirstCitizens.com/Certificate-Of-Deposit.

CD Benefits & Pricing
Steady rates and flexible terms

Earn and save more

Earn up to 0.15% APYD depending on the CD term you select.

Reach your goals

Plan ahead. Save more for a vacation, wedding, large purchase or other life goal.

Insured savings

Your funds are insured by the Federal Deposit Insurance Corporation, or FDIC.

Special-feature CDs
Sync your funds and financial goals

Term

Minimum Opening Deposit

APYD

6-month automatic saver CDD

$500

0.01%

1-year convertible CDD

$500

0.01% ≥ $49,000
0.02% ≥ $50,000

1+ year premier CDDD

$5,000

0.10%

Certificate of deposit rates may vary depending on your area. Contact your local branch for details.

CD Savings Account Rates & Terms
Align your funds with your savings goals

Term

Minimum Opening Deposit

APYD

6 months

$500

0.01%

12 months

$500

0.01%

18 months

$500

0.02%

2 years

$500

0.05%

3 years

$500

0.05%

4 years

$500

0.15%

5 years

$500

0.15%

CD account rates may vary depending on your area. Contact your local branch for details.

CD Savings Account FAQ
People often ask us

With a CD, you deposit a sum of money to earn interest for a certain period of time. These periods of time can range from shorter terms measured in months to longer terms spanning multiple years. During this term, your CD savings account earns a fixed rate of interest. Although you can access your funds before the CD matures, there's a penalty for early withdrawal. Once your CD matures, you can renew it for another term or withdraw your funds without penalty during the grace period.

A certificate of deposit, or CD savings account helps your money grow over a specific length of time with a guaranteed interest rate. If you have funds that you don't need to access for a while, a CD account is a great way to safely store and grow your savings while you plan for the future.

Yes, but a penalty may be imposed for early withdrawal of principal. Any withdrawal of principal or interest prior to maturity will reduce earnings on the account.

You can open a CD savings account by visiting a local branch. Speaking with a banking representative can help you decide which CD account is the best fit for you. The minimum opening deposit for a CD account is $500.

Yes. Your deposit accounts, including CD savings accounts, are insured up to $250,000 per depositor, for each account ownership category.

A savings account is a personal banking account that earns interest. Interest rates can vary daily. Some savings accounts require a minimum opening deposit. You're allowed to withdraw your funds at any time. However, there's usually a minimum monthly balance that must be maintained to keep this account open.

Unlike a personal savings account, a CD savings account is a type of investment that secures a fixed amount of money for a specific time. A CD account accrues interest at a higher rate than an individual savings account. This higher interest yields greater savings over time, making it an excellent choice for saving more over a specific period. Once the CD reaches maturity, you can allow it to auto-renew, or you can withdraw your funds plus the interest.

Insights
A few financial insights for your life

Saving

Know the Difference Between a CD and a Savings Account

Find out what you need to consider about each to help you meet financial goals.
CDs and savings accounts have similarities and differences, and both can be used jointly as part of a larger strategy.
Saving

Have You Considered CD Laddering as a Savings Strategy?

CD laddering is ideal for those who want FDIC-insured savings, higher interest rates and protection from market risk.
With CD laddering, you invest money in multiple CDs with different maturity levels instead of investing in one CD and waiting for it to mature.
Saving

Get the Most Out of Extra Cash

Put your extra money to work in ways that help advance your most important goals.
Experts recommend that you have three to six months' worth of living expenses stashed away for a rainy day.

Account openings and credit are subject to bank approval.

First Citizens does not charge fees to download or access First Citizens Digital Banking, including the First Citizens mobile banking app. Mobile carrier fees may apply for data and text message usage. Check with your carrier for more information. Fees may apply for use of certain services in First Citizens Digital Banking.

Zelle® and the Zelle® related marks are wholly owned by Early Warning Services, LLC and are used herein under license.

APY (annual percentage yield) is accurate as of ${date-today}. Penalty may be imposed for early withdrawal. No brokered CDs accepted. Other restrictions and fees may apply. Fees could reduce the earnings on the account.

Limited-time offer that may be withdrawn or changed at any time without notice. Public funds are not available for CD promotional rates. A penalty may be imposed for early withdrawal of any principal. Any withdrawal of principal or interest prior to maturity will reduce earnings on the account. As a general rule, you may not make additional deposits after you open your account until the maturity date. There are exceptions to this general rule, such as 182- to 364-day CDs and all IRAs. Please consult your Disclosure of Product and Fees to determine whether additional deposits are permitted for your account.

A Premier or Prestige checking account is required to receive the Premier CD.

A penalty may be imposed for early withdrawal of principal. Any withdrawal of principal or interest prior to maturity will reduce earnings on the account.

Links to third-party websites may have a privacy policy different from First Citizens Bank and may provide less security than this website. First Citizens Bank and its affiliates are not responsible for the products, services and content on any third-party website.

Bank deposit products are offered by First Citizens Bank. Member FDIC and an Equal Housing Lender. icon: sys-ehl.

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