Business CDs
Ready for worry-free investing? Put business funds you don't need for everyday expenses to work with a fixed rate and terms from 6 to 60 months.
Business CDs
Ready for worry-free investing? Put business funds you don't need for everyday expenses to work with a fixed rate and terms from 6 to 60 months.
Put Your Cash Reserves to Work
Business CD Terms to Fit Your Goals
Choose a term based on when your business expects to need the funds and earn a fixed rate1 for the selected term.
- Fixed interest rate based on tiers
- Terms of 6–60 months
- Minimum of $1,000
- Interest compounded daily and paid accordingly to your selected payment schedule
Business CD Terms to Fit Your Goals
Choose a term based on when your business expects to need the funds and earn a fixed rate1 for the selected term.
- Fixed interest rate based on tiers
- Terms of 6–60 months
- Minimum of $1,000
- Interest compounded daily and paid accordingly to your selected payment schedule
How Soon Can You Reach Your Savings Goals?
Crunch the numbers with our convenient borrowing and budgeting calculators.
Try It OutMore Solutions
BUSINESS SAVINGS
Maximize Your Cash Reserves
Discover more ways to keep your business’s money growing.
BUSINESS CHECKING
A Solid Foundation for Growth
It all starts with checking. Explore our tailored account options.
INVESTMENTS
Envision the Future You Want
Customized investment options with trusted service and advice.
When should a business consider a CD?
A business may consider a CD when it has cash reserves that are not needed for everyday operating expenses and can be set aside for a specific period. A CD can provide a guaranteed fixed rate for the selected term.
What is the best place for business cash that I don’t need right away?
A business CD may be a good option for funds that are not needed for everyday expenses and can remain deposited for a set period. Businesses that need more frequent access to their funds may want to consider a business savings or money market account instead.
What is the minimum deposit for a Minster Bank Business CD?
The minimum deposit to open a Minster Bank Business CD is $1,000.
What terms are available for Minster Bank Business CDs?
Minster Bank offers Business CD terms ranging from 6 to 60 months, allowing businesses to choose a term based on when they expect to need their funds.
Do business CDs have fixed interest rates?
Yes. Minster Bank Business CDs offer fixed interest rates for the selected CD term, providing a predictable rate of return.
How does a business choose the right CD term?
Businesses should consider when they expect to need the money. A shorter term may be appropriate for funds that may be needed sooner, while a longer term may be appropriate for cash that can remain invested for a longer period.
Can a business earn more by putting a larger amount into a CD?
Minster Bank Business CD rates are based on balance tiers, so the rate available may vary depending on the amount deposited. Businesses should compare the current rates for the available balance tiers and terms.
Can I access money in a business CD before the term ends?
Early withdrawal may result in an interest penalty. Businesses should consider their expected cash needs before choosing a CD term.
What is the difference between a business savings account and a business CD?
A business savings account generally provides more flexibility for accessing funds, while a CD is designed for money that can remain deposited for a specific term in exchange for a fixed rate. Minster Bank offers both business savings and Business CDs to meet different cash-management needs.
What is the difference between a business money market account and a business CD?
A business money market account can provide easier access to funds while earning interest, while a CD is designed for funds that can be set aside for a predetermined term at a fixed rate. A business should consider how frequently it may need the money when choosing between the two.
What is a business CD best used for?
Business CDs are best suited for funds a business doesn’t need for day-to-day cash flow but wants to earn a fixed rate on for a set period.
Disclosures
1. Interest penalty may apply for early withdrawal.
