Certificate of Deposit FAQs

We have the answers to the most common NASB certificate of deposit account questions.

Have questions about NASB certificate of deposit accounts?

We have answers. Please feel free to reach out directly to us if you have further questions. We look forward to hearing from you!
A certificate of deposit, or CD, is a type of savings account with a fixed interest rate and fixed date of withdrawal, known as the maturity date. If you have savings that you won’t need to access for a while, an FDIC-insured certificate of deposit might be an ideal savings plan. Interest is compounded daily, and generally the longer your term length, the higher the interest rate, and the more money you'll earn. Choose from either a traditional CD or a Fixed Rate IRA CD, and access even better rates if you have a NASB checking account. Read more here.
When you're ready to open a NASB certificate of deposit account, simply click here to start the process or stop by one of our branches. If you have questions, don't hesitate to call us at 816-316-4000, option 3. 
Once your money is placed into the CD, it is locked for the term. You may withdraw but a penalty will be applied. 
No, you cannot make deposits into your account until the maturity date.
Yes, however this amount can vary and is subject to change. Currently, the minimum balance required to open a certificate of deposit is $1,000. The minimum balanced to open a fixed rate IRA CD is $100.
Typically, the longer the term of the CD, the higher the rates, and NASB checking customers can earn higher interest rates on CD products based on the aggregate balances in NASB checking account(s) of which they are the primary or secondary account holder. You can see our CD rates here, and for any questions please contact customer service at 1-800-677-6272.   
NASB uses the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Your NASB certificate of deposit account will automatically renew at maturity. You will have seven calendar days after the maturity date to withdraw funds without penalty. The interest rate will be the same as offered on new accounts on the maturity date with the same or similar term and minimum balance requirements as your renewed certificate.
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