Northwest Bank | Certificate of Deposit (CDs)

Certificate of Deposit

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Keep your nest egg growing with a Certificate of Deposit

Certificates of Deposit (CDs)

A CD is a great choice when you have extra money you want to grow over time. Enjoy peace of mind as your money stays 100% safe during big market losses. It’s FDIC insured up to maximum limits, just like a savings account.

Contact your local branch to speak with a banker about opening a CD account.

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Savings and CD Promotions

To open a new CD, visit your local branch and speak with a banker.

5.10% APY¹

10-month

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4.00% APY²

18-month

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Add up the benefits of a Northwest Certificate of Deposit!

Premium Interest Rates

Guarantee a return for the term of your choice - from one week to ten years - with interest rates typically higher than a savings account.

Secure Your Savings

Your savings are backed by Northwest Bank and insured by the FDIC for up to $250,000²

Fixed Rates That Grow

Interest compounds and is credited to your account.

Waive Monthly Service Fees

Your savings balance can help waive monthly service fees on an Affinity Plus or Affinity Premier checking account

Additional features of a Northwest CD

No monthly service fees
View your account with online and mobile banking
Open an account at your nearest Northwest branch location
Auto-renew at maturity or cash out without penalty within the grace period

Roth or Traditional IRA CD

Our 18-month variable rate IRA CD can give you peace of mind as you plan for retirement. Deposits can be processed any time, in any increment up to the maximum contribution limit. Withdrawals can be processed during the 7-day grace period.

Visit a Northwest branch to learn more

Learn more about certificates of deposit (CDs) with these financial tips and tools.

Calculate the potential interest earned on a CD

Use our calculator to calculate the interest earned on a certificate of deposit based on the Annual Percentage Yield (or APY), which is the effective annual rate of return once the effects of compounding interest are factored in.

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Laddering strategies for CDs

With laddering, you take out several CDs, all with different terms. Ideally, you want your CDs to reach maturity at regular intervals. That gives you the choice at each maturation date to either withdraw funds, renew them for a new term or withdraw some and re-invest the rest.

Read the article

Is it time to use CDs for investing again?

Once again, CD rates are back on the rise, leaving people who have decided against them in the past to reconsider whether now might be the time to begin investing in CDs once again.