Certificates of Deposit (CDs)
*Must be filled, printed, and returned to a KCNB location.
What is a CD?
A certificate of deposit, or CD, is a type of savings account that holds a fixed amount of money for a fixed period of time, and in exchange, the issuing bank pays interest. When a CD matures, the person whose name the CD is in will receive the money plus interest.
What does a CD at KCNB do for me?
In the table below, we’ve listed our CD rates. We offer many options on terms (the length of time it will take for a CD to mature.)
Grace Period
On the day your CD matures, there is a 10-day grace period where you’ll have a few options to choose from:
(1) Renew – Your CD may be set to automatically renew. You must notify us in writing before, or within a 10-day grace period after, the maturity date if you do not want this account to automatically renew.
(2) Transfer – Move the CD funds into another KCNB account.
(3) Withdraw – Withdraw all, or a portion, of your money out of the account.
(4) Deposit – Place more funds into the CD.
Early Withdrawal
Typically, your funds are “locked” in your CD until the maturity date. This means you cannot deposit, withdraw, or transfer funds. If you decide to move your funds early, a penalty fee will be assessed.3
KCNB CD Terms & Rates
Rates Effective as of March 1, 2024. For the most up-to-date rates, call us at (830) 780-3317.
| Type of Account | Term | Minimum Deposit to Open | Minimum Balance2 to Obtain Annual Percentage Yield (APY) | Interest Rate | APY 1 | Interest Compound |
|---|---|---|---|---|---|---|
Regular CD | 1 Month | $1,000.00 | $1,000.00 | 2.75% | 2.78% | Monthly |
3 Month | $1,000.00 | $1,000.00 | 2.75% | 2.78% | Monthly | |
6 Month | $1,000.00 | $1,000.00 | 2.00% | 2.02% | Monthly | |
1+ Year | $1,000.00 | $1,000.00 | 2.50% | 2.53% | Monthly |
| Type of Account | Term | Minimum Deposit to Open | Minimum Balance2 to Obtain Annual Percentage Yield (APY) | Interest Rate | APY 1 | Interest Compound |
|---|---|---|---|---|---|---|
Special CD | 7 Month | $50,000.00 | $50,000.00 | 4.00% | 4.07% | Monthly |
Special Jumbo CD | 13 Month | $100,000.00 to $1,000,000.00 | $100,000.00 | 5.10% | 5.22% | Monthly |
| Type of Account | Term | Minimum Deposit to Open | Minimum Balance2 to Obtain Annual Percentage Yield (APY) | Interest Rate | APY 1 | Interest Compound |
|---|---|---|---|---|---|---|
Jumbo CD | 1 Month | $30,000.00 | $30,000.00 | 5.00% | 5.12% | Monthly |
3 Month | $30,000.00 | $30,000.00 | 5.00% | 5.12% | Monthly | |
6 Month | $100,000.00 | $100,000.00 | 3.00% | 3.04% | Monthly | |
1+ Year | $100,000.00 | $100,000.00 | 3.50% | 3.56% | Monthly |
Deposits FAQs
Am I able to submit my application online?
We currently do not provide the means for you to apply online or submit your application electronically.
Our applications are available at any KCNB location, and can also be found on our website in a fillable and downloadable PDF format.
Do I need an appointment to see a New Accounts Representative?
We do not schedule appointments to meet with our representatives. However, we do encourage you to call your preferred location ahead of time to check on availability.
Our business hours are from 8am-5pm, with the lobby open from 9am-3pm, Monday through Friday.
What will I need to bring with me to open an account?
Generally, a valid government-issued photo ID, Social Security Card, and proof of residence will be required to open an account. You will also need your opening deposit.
Certain circumstances/accounts may require additional documentation. Call 830-780-3317 for more information.
Need help deciding?
Give us a call at 830-780-3317 or visit any KCNB location.
- Quoted APY is based on interest compounded monthly. The APY assumes that interest remains on deposit until maturity. A withdrawal of interest will reduce earnings. Rate and APY may change after the account has been opened, but your initial interest rate will not change until maturity. Fees could reduce the earnings on the account.
- We use 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.
- A penalty will be imposed for withdrawals before maturity. Refer to a New Accounts representative for details.
