Certificates of Deposit and CDARs
Certificates of Deposit
Certificates of Deposit (CD) are low-risk savings options that enable you to capture higher rates of interest the longer you invest.
This is a great way to save, though it comes with a couple caveats:
- Early withdrawal penalties may apply.
- Interest can be withdrawn without a penalty during the term of the CD.
| Features | Fixed CD | Flex CD |
|---|---|---|
| Interest | Fixed for CD term, tiered rate | Variable, tiered rate (rates subject to change without notice) |
| Minimum deposit to open | $1,000 (1- and 2-month CDs have minimum deposit of $10,000) | $100 |
| Additional deposits allowed | No | Yes |
| Terms available | Review rate sheet for details | Review rate sheet for details |
Certificate of Deposit Account Registry Service (CDARS)
When you deposit a large amount at MidWestOne Bank, you have the option of enrolling in CDARS. When you do, we place your funds into CDs issued by CDARS network members. This gives us the ability to provide you with FDIC deposit insurance on your entire relationship, no matter the balance.
For more information or to enroll in CDARS, please contact us.