Certificate of Deposit
Maximize your savings with a CD from Dollar Bank.
Why invest in certificates of deposit (CDs)?
CDs put you in charge of your savings with guaranteed rates for the term you choose — backed by FDIC insurance. This means you'll have a safe place for your money to grow and you can calculate exactly how much you'll earn when your CD reaches its maturity date. CDs typically offer a higher rate of interest than either a traditional savings or a money market account.
We offer CD options to help you meet your short and long-term savings goals.
Which CD is right for me?
| Accounts | Minimum to Open | Terms | Rate Structure | Rate Protection | Access to Funds | Requires Checking Relationship |
|---|---|---|---|---|---|---|
|
Traditional Term CD
Choose to let interest accumulate or receive interest checks. |
$2,500 | 6–120 months |
Choose the term that fits your timeline and lock in a guaranteed rate for the duration of your CD |
Fixed for term | At maturity | No |
|
Bump-Up CD
Open at today's rate with an option to lock in a higher rate later. |
$2,500 | Multiple terms available |
Fixed interest |
Bump to a higher rate once if rates rise during your term | At maturity | No |
|
CD Ladder
Combine multiple CD terms and APYs with access to portions of your funds every 6 or 12 months. |
$3,000 |
6–120 months (laddered) |
Blended rate across multiple CDs |
Reinvest as CDs mature if rates rise; locked rates if rates fall | A portion every 6 or 12 months | No |
|
Relationship CD
Pair your CD with a qualifying account. |
$2,500 | Multiple terms available |
For Everything Checking customers |
Fixed for term | At maturity; interest paid regularly or accumulated | Yes (Everything Checking) |
|
Rising Rate CD
High interest rate with access every 90 days. |
$2,500 |
Multiple terms available |
One-year term - rate increases quarterly |
Scheduled rate increases over the term | Every 90 days, or accumulate for a higher rate | No |
|
Three Month No Penalty CD
For short term investment. |
$2,500 | 3 months |
Fixed interest |
Fixed for term |
7-day withdrawal restriction - no penalty thereafter |
No |
FAQs
A CD is a term deposit – which means you agree to keep it with the bank for a set amount of time. When your Dollar Bank CD matures, you will have a 7-day grace period to decide what you want to do with your money. You can let your CD renew or move your money into another account or into another CD at the same bank or a different one.
There is no limit to the number of CDs you can have at any time. You can have multiple certificates of deposit accounts at one bank or at different financial institutions. Our Dollar Bank experts can help you decide whether opening multiple CDs at the same time is a good strategy for your financial goals.
With a variable rate CD, your money is locked up for a fixed period of time (term) and has an interest rate that fluctuates throughout the term. Dollar Bank offers a Bump-Up CD, if interest rates go up you have the choice of bumping up to a higher rate for the remainder of your term. Plus, you can select whether to receive your interest regularly or let it accumulate to earn more interest.
Unlike a savings account, once you open and fund your CD, you generally can’t add money until it reaches the end of its fixed term, which is called the maturity date. When your CD matures, you will have a grace period to decide what you want to do with your money. You can let your CD renew or move your money into another account or into another CD.
We go beyond traditional certificate of deposit accounts to offer a variety of CD options with competitive rates to meet your savings goals. Our selection of CDs offers you a secure way to earn more on your terms.
- Traditional Term CD - Choose the term and amount.
- Relationship CD – Earn our exclusive Relationship rate when you also have an Everything Checking Account.
- CD Ladder – A combination of CDs working as one investment to maximize your savings.
- Rising Rate CD – Get a high interest rate and access to your money every 90 days.
- Bump-Up CD – Lock in today’s rate with the flexibility to bump up to a higher rate later.
- 3-Month No Penalty CD – A short-term savings option at a high interest rate.
CD interest gets compounded over time just like a regular savings account. This means you will earn interest on your initial deposit and the accrued interest that the CD earns. How much interest you accrue depends on the annual percentage yield (APY). Compounding takes place at regular intervals – such as daily or monthly.
Interest earned on a certificate of deposit is considered taxable by the IRS, regardless of whether the money is received in cash or reinvested.
We’ll send you a notice 30 days before your certificate of deposit matures to remind you of the upcoming maturity date. Once your CD matures, you have a 7-day grace period to decide whether you would like to renew the CD or add funds to it, move the funds to a different CD or account or withdraw the money. If you do nothing, your CD will automatically renew for the same term at the current interest rate. We’ll send you a renewal letter to verify the new rate and term.
A parent or guardian can open a CD for a minor child through a joint custodial account and manage the account until the child turns 18.
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Disclosures
Learn more about FDIC insurance coverage for this product.
*Annual Percentage Yield (APY) shown is accurate as of 10/23/26 and is subject to change without notice. $25,000 minimum balance. $1,000,000 maximum per customer for CD rate and term. CD must include a minimum new money increase of $25,000 based on the CD owner(s) average daily balances during the past 30 days. A penalty will be imposed for early withdrawal. CD offer is for consumer customers residing in Dollar Bank's PA and MD market areas.