Business Certificates of Deposit
For short or long term savings, you can select a plan that coincides with your business savings goal. Certificates of Deposit (CDs) are available in a variety of specific, fixed terms and provide protection against fluctuating interest rates.
Certificates of Deposit (CDs)
Our Business CDs are attractive savings tools, offering competitive rates, a range of maturity options, and flexible features that allow you to add to or withdraw portions of your funds.
- Low $500 minimum to open
- Lock in your interest rate for one month up to five years
- Quarterly statement (monthly for deposit customers with a combined statement)
- Penalty for early withdrawal of funds prior to the maturity date
- You may not make additional deposits into this account
- Automatic renewal
- May be used as collateral for a loan
- FDIC Insured
Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the U.S. government. The FDIC protects you against the loss of your deposits if an FDIC-insured financial institution fails. FDIC insurance is backed by the full faith and credit of the United States. Katahdin Trust Company is a member of the FDIC. For additional information, please refer to the FDIC website.
Certificate of Deposit Account Registry Service – CDARS
We also participate in a Certificate of Deposit Account Registry Service® (CDARS), an organization of banks within a deposit-matching network, which allows us to insure deposits of more than $250,000 by placing them in FDIC-insured accounts within our network. Click here to learn more.