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 – Short-duration CDs (3 Month & lower categories) can be set to auto-renew at maturity. Long-duration CDs (6 Month & higher categories) do not have the option to auto-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 July 27th, 2023. For the most up-to-date rates, call us at (830) 780-3317.
| Type of Account | Term | Minimum Deposit to Open | APY 1 | Interest Rate | Interest Compound | Minimum Balance2 to Obtain Annual Percentage Yield (APY) |
|---|---|---|---|---|---|---|
Regular CD | 1 Month | $1,000.00 | 2.78% | 2.75% | Monthly | $1,000.00 |
3 Month | $1,000.00 | 2.78% | 2.75% | Monthly | $1,000.00 | |
6 Month | $1,000.00 | 2.02% | 2.00% | Monthly | $1,000.00 | |
1+ Year | $1,000.00 | 2.53% | 2.50% | Monthly | $1,000.00 |
| Type of Account | Term | Minimum Deposit to Open | APY 1 | Interest Rate | Interest Compound | Minimum Balance2 to Obtain Annual Percentage Yield (APY) |
|---|---|---|---|---|---|---|
New CDs | 7 Month | $50,000.00 | 4.07% | 4.00% | Monthly | $50,000.00 |
13 Month | $50,000.00 | 3.82% | 3.75% | Monthly | $50,000.00 |
| Type of Account | Term | Minimum Deposit to Open | APY 1 | Interest Rate | Interest Compound | Minimum Balance2 to Obtain Annual Percentage Yield (APY) |
|---|---|---|---|---|---|---|
Jumbo CD | 1 Month | $100,000.00 | 5.12% | 5.00% | Monthly | $100,000.00 |
3 Month | $100,000.00 | 5.12% | 5.00% | Monthly | $100,000.00 | |
6 Month | $100,000.00 | 3.04% | 3.00% | Monthly | $100,000.00 | |
1+ Year | $100,000.00 | 3.56% | 3.50% | Monthly | $100,000.00 |
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.
- Annual Percentage Yield (APY) is a percentage rate that reflects the total amount of interest paid on the account, based on the interest rate and the frequency of compounding for a 365-day period.
If you receive a periodic statement, it will include the APY earned on your account for the period covered by the statement.
Quoted APY is based on interest compounded monthly. Other variations of compounding interest may be available at the customer’s request.
Fees could reduce earnings on the account. - You must maintain the stated minimum balance on a daily basis (amount equal to the principal in the account each day) to earn the quoted APY.
- The penalty fee for early withdrawal on a CD is dependent on the interest rate and the amount of the principal balance. Please ask a New Accounts representative for details.
