CDs, IRAs & CDARS




woman using a calculator

Certificates of Deposit

Certificates of Deposit (CDs) offer a stable environment for your money for an extended period of time. Maximize your earnings with terms ranging from one month to 60 months.

  • Competitive interest rates guaranteed for the entire term
  • Establish accounts with a minimum of $1,000
  • FDIC insurance covers deposits up to $250,000*
  • Interest reinvested or distributed on regular intervals

Individual Retirement Account (IRA) CDs

Certificates of Deposit can be a useful savings vehicle for retirement as well.  At Centric Bank, CDs with terms from 12 to 60 months are available as an IRA.  We’ll establish the CD account as an officially designated Individual Retirement Account.
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woman with coffee looking at laptop

High Balance Deposits with CDARS®

For CD accounts that exceed the $250,000 limit for FDIC insurance, Centric Bank offers CDARS (Certificate of Deposit Registry Service). This program extends FDIC protection across the full value of your deposits, with the convenience of a single account and personal service from Centric Bank.


Open Your CD

To learn more about Centric Bank's current CD rates and specials or to open an account, please contact any of our Financial Centers, call us at 888.274.2033, or Connect with a Banker below.  We look forward to speaking with you!

When to Consider a CD

A Certificate of Deposit may be a good choice for you if you have some money saved that you won’t need in the near future.  When you open a CD account, there is typically a penalty for withdrawing your deposit before the term ends.  This can be a strong incentive not to spend money you planned to save.

CDs from a bank are a relatively low-risk investment because they are generally insured by the Federal Deposit Insurance Corporation (FDIC).  CD deposits are generally protected by the FDIC against loss of principal up to $250,000.  If you’re not sure whether you’ll need to tap into your savings in the next few months or years, a CD may not be the best choice, due to the penalty for early withdrawal.

If you’re not sure what savings product is right for you, a Centric Bank representative would be happy to walk you through the options!  Contact us today or visit one of our financial centers.



How Does a Certificate of Deposit Work?

When you open your Certificate of Deposit, you are agreeing to leave a certain amount of money on deposit at the bank for a specified period of time, called the “term.”  In exchange, the bank agrees to pay a predetermined interest rate and guarantees the repayment of your principal (the amount you invested) at the end of the term.  Calculate your earnings with our CD calculator.

FDIC insurance covers deposits up to $250,000 per depositor, per institution, per ownership category.