CDs 101

Certificates of Deposit offer a safe and risk-free way to earn interest on your money. A CD has a set term when the money is not liquid and most times, a set interest rate which makes the money earned predictable.
CDs can be a great savings tool to reduce the temptation to use that money. Although the term of the CD might be set in stone, your money is not. If something comes up, you still have access to your funds but at a small fee. Frontier Bank offers CDs ranging from 6 months to 36 months, with a variety of minimum opening deposits and competitive interest rates. Generally, the interest rate increases the longer you can keep your money in them.

11-Month CD Special

Our 11-month CD Special is our highest rate available at this time. It has a fixed interest rate of 4.09% APY. This CD compounds semi-annually and is credited to the account at that time. With a minimum opening deposit of $5,000, that could be at least $187 earned in just 11 months.

18 & 36 Month Rate Riser

We offer two terms for our Rate Riser CDs. Our 18-month Rate Riser has a minimum opening deposit of $1,000 at 1.66% APY. While the 36-month Rate Riser has a minimum opening deposit of $5,000 at an interest rate of 2.16% APY. Interest is compounded and credited semi-annually for these two CDs. What sets the Rate Risers apart is the ability to change the interest rate one time during the term of the CD. So if interest rates are to increase, you could take advantage of that by increasing the rate on the Rate Riser.

24-Month Add Away

Our 24-month Add Away CD has a minimum opening deposit of $500. This product currently has an interest rate of 1.91 % APY. Interest is compounded and credited to the CD semi-annually. The best part of this product is the ability to add funds to the CD at any time in increments of $500 or more. This can play a huge part in your saving goals by earning a higher rate than that of a savings account.
A key aspect of the Add Away CD is that the interest rate is subject to change on January 1st and July 1st. Right now, with interest rates in a rising environment, the variable interest paired with the ability to add funds could be very beneficial for savers.

6, 12, 24, or 36 Month

For those that are looking for a plain and simple certificate of deposit, we have those too! From 6 months to 36 months, Frontier Bank’s CDs have a fixed, tiered interest rate so the more money you open the CD with, the more you’ll earn. Likewise, the longer the term, the higher the interest rate. Each one has a minimum opening deposit of $1,000.

For more information on our CD terms and conditions, please contact your local Frontier Bank customer service representative.