Certificates of Deposit

A little time can do a lot of good for you and your money

Put your savings on a schedule to make your money do you some good

Make the timing work for you
Choose Carter Bank CD terms ranging from two weeks to five years.
Lock in your rate
There's no guesswork involved. Fixed interest rates allow you to calculate your earnings ahead of time.
Safe and secure
CD deposits are protected by the Federal Deposit Insurance Corporation (FDIC).

Let's give your savings a nice, big lift

Reach your savings goal of a down payment on a home or college tuition faster with a fixed rate and fixed term. Choose your Certificate of Deposit (CD) amount, choose your term and rest assured you'll end up with more money to achieve your dreams.

  • CDs have higher earnings than most standard savings accounts
  • Diversify your funds and interest savings return by choosing different terms
  • Early withdrawal of funds may result in loss of some interest earnings, but your original deposit is never at risk
  • Penalties for early withdrawals: For maturities of less than one year, a 30-day interest penalty will be assessed. For maturities of one year or more, a 90-day interest penalty will be assessed.
  • $100 to open


For contact information, including phone numbers, email addresses, and online inquiries, please visit our "Contact Us" page. You can also call us at (833.275.2228), or visit us at one of our locations. To find a location click here.

Checking your way

Get checking account options, all with convenient digital tools.

Fees may reduce earnings.

¹ Initial Annual Percentage Yield (APY) assumes, principal and interest remain on deposit until maturity. Interest is compounded daily and credited quarterly. To earn APY, the minimum balance must be $100.00. A penalty for early withdrawal will be imposed. Fees may reduce earnings. Annual Percentage Yield (APY) is accurate as of 12.15.23.

All promotional offers, products and services offered by Carter Bank are subject to updates, modifications and/or termination at any time.

² Rates subject to change. At our discretion, we may change the interest rate daily. Fees may reduce earnings. (This includes transfers for overdraft or insufficient funds transfers). The Annual Percentage Yield (APY) and balance for Carter Bank Premium Money Market Account are accurate as of 5.22.2023. APY is variable and subject to change based on the balance in the account; $0-$2,499.99 at 0.00% / $2,500-$24,999.99 at 0.26% / $25,000-$49,999.99 at 3.26% / $50,000-$99,999.99 at 3.37% / $100,000-$499,999.99 at 3.46% / $500,000-$999,999.99 at 3.56% / $1,000,000 and above at 4.01%. To earn the advertised APY, the minimum balance must be $25,000.00. Charges and fees may reduce earnings. Premium Money Market Account is available for personal and business customers.
$2,500 minimum balance to avoid fees. 30 day grace period to get to minimum balance.

³ Christmas Club Disclosure Maximum deposit is $5,000 per customer.The daily balance method is used to calculate the account interest. This method applies a daily periodic rate to the principal ledger balance in the account each day. Unlimited deposits up to the $5,000 maximum deposit limit.  No withdrawals without closing the account.  If account is closed before interest is credited interest will be forfeited. $15.00 early closeout fee if account is closed within 90 days of account opening. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate daily. Fees may reduce earnings.

Carter Bank is a full-service financial institution with locations throughout Virginia and North Carolina.