Certificates of Deposit and IntraFi Network Deposits

Certificates of Deposit

Certificates of Deposit (CD) are low-risk savings options that enable you to capture higher rates of interest.

Interest on Certificates of Deposit

Interest is calculated using the daily balance method that applies a daily periodic rate to the principal in the account each day.

You may choose to have interest paid to you by deposit into your checking or savings account monthly, quarterly, semiannually, or annually. Interest credited during the term of the certificate can be withdrawn at any time during that term without penalty.

View Rates

Early Withdrawal Penalty

Amount of principal withdrawn before maturity will be subject to early withdrawal penalty using the CD's stated interest rate as follows.

Renewals

• CDs will automatically renew at maturity.
• Maturity notices are placed in the mail 15 business days prior to the maturity of your CD.
• You have a grace period of 10 calendar days after the maturity date to withdraw the funds without a penalty charge.
• You must notify the bank within the 10-day grace period if you do not want your CD to automatically renew. 
• Each renewal term will be the same as the original term beginning on the maturity date, unless otherwise disclosed.
• The interest rate will be the same as offered by MidWestOne Bank on new CDs on the maturity date. Interest will be calculated on the same basis as the original term.

IntraFi^® Network Deposits^SM

When you deposit a large amount at MidWestOne Bank, you have the option of enrolling in IntraFi^® Network Deposits^SM. When you do, we place your funds into CDs issued by IntraFi^® Network Deposits^SM network members. This gives us the ability to provide you with FDIC deposit insurance on your entire relationship, no matter the balance.

Learn more about IntraFi^® Network Deposits^SM

For more information or to enroll in IntraFi^® Network Deposits^SM, please contact us.