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Business CDs

A Safe, Reliable, High Earning Way to Save

If you need to set aside your business’ assets for specific goals, Heartland Bank’s CDs (Certificates of Deposit) can help you achieve those goals. With a CD you’ll receive a guaranteed return on your business investment, and have the added security of FDIC Insurance. You choose the length of time and rate of yield right for your business.

Standard CDs
Rate Information: Contact Us
Available Term: 3, 6, 9, 12, 18, 24, 30, 36, 48, 60 months
Minimum amount to open: $1,000.00
Penalty for early withdrawal: Determined by term of certificate. Early withdrawal will reduce earnings.
Terms of renewal: Your account will automatically renew at maturity. Each renewal term will be the same as the original term, beginning on the maturity date. A grace period of ten calendar day(s) after maturity is given to withdraw the funds without being charged an early withdrawal penalty.
Interest: For convenience, interest may be added to the certificate or credited to a checking or savings account of the customer's choice.
Free On-line Banking Free On-line Banking is available to check your certificate balance, interest rate and maturity. Ask a Personal Banker for details on how to sign-up.

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10 Month & 20 Month Adjust-A-Rate CDs

A great Certificate of Deposit when you are uncertain of what rates are going to do in the future.

  • Allows the holder to change the interest rate once during the term to the current 10 month or 20 month Adjust-A-Rate Certificate of Deposit rate.
  • $1,000 minimum to open account
  • 10 day grace period following maturity to withdraw funds without penalty
  • Interest compounded monthly
  • Interest may be credited to a checking or savings account of the customer’s choice
  • Automatically renewable
  • Early withdrawal will reduce earnings
  • Ask a Personal Banker for current interest rate and annual percentage yield
  • Free On-line Banking

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If you are thinking of depositing more than $250,000 in a CD and want full FDIC coverage, we provide the Certificate of Deposit Account Registry Service known as CDARS. Everything for this service is handled through Heartland Bank. A large deposit is broken into smaller amounts and placed with other banks that are members of a special network. Those member banks issue CDs in amounts under $250,000, so your entire investment is eligible for FDIC insurance, and all while working with just Heartland Bank.

You earn one rate on your entire investment, so you don’t have the hassle of negotiating multiple rates and receive multiple disbursement checks. You receive one regular account statement listing all your CDs, along with the issuing banks’ names, maturity dates, interest earned and other details.

How do CDARS work?

  • You enter into one Deposit Placement Agreement with Heartland Bank.
  • You select an interest rate and a maturity which best matches their investment goals, based on our current CD options
  • Using CDARS, we submit your funds for placement at member banks.
  • Member banks issue the CDs in denominations under $250,000 so your entire investment is eligible for full FDIC insurance coverage
  • You will receive written confirmation of deposit and a listing of all CDs.
  • You will receive one monthly statement, and one single year-end 1099 that reports taxable income on all CDs involved.

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