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C&F Bank Certificates of Deposit: Guaranteed Rates from 3 to 60 Months

C&F Bank certificates of deposit lock in a fixed interest rate for terms ranging from 3 to 60 months. The minimum deposit is $1,000 and every CD is FDIC insured up to $250,000. Longer terms generally earn higher rates. CDs auto-renew at maturity with a 10-day grace period. C&F Bank also supports CD laddering strategies that balance yield with periodic liquidity. Monitor maturity dates and interest earned through CFFC online banking. Citizens and Farmers Bank — secure, guaranteed returns since 1927. Member FDIC. NMLS #399805.

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C&F Bank certificate of deposit rate comparison displayed on the CFFC online banking dashboard

C&F Bank CD Rate Schedule

Fixed rates guaranteed for the full term. $1,000 minimum deposit on all CDs.

Term Minimum Deposit Interest Rate APY Compounding Early Withdrawal Penalty
3 Months$1,000FixedCompetitive APYDaily90 days interest
6 Months$1,000FixedCompetitive APYDaily90 days interest
12 Months$1,000FixedCompetitive APYDaily90 days interest
18 Months$1,000FixedCompetitive APYDaily180 days interest
24 Months$1,000FixedCompetitive APYDaily180 days interest
36 Months$1,000FixedCompetitive APYDaily180 days interest
48 Months$1,000FixedCompetitive APYDaily180 days interest
60 Months$1,000FixedHighest APYDaily180 days interest

Rates are set at the time of account opening and guaranteed for the full term. Contact 804-843-2360 or visit any C&F Bank branch for current rates. APY assumes interest remains on deposit for the full term. Fees and early withdrawal penalties may reduce earnings. FDIC insured up to $250,000.

Why Choose a C&F Bank Certificate of Deposit?

CDs offer guaranteed returns with zero market risk — the safest way to grow money you do not need immediately.

A C&F Bank certificate of deposit guarantees your interest rate for the entire term. Whether rates rise or fall after you open the CD, your rate stays locked. This predictability makes CDs an essential tool for conservative investors, retirees living on fixed income and anyone saving toward a specific goal with a known timeline.

Unlike stocks, bonds or mutual funds, CDs carry no market risk whatsoever. Your principal is guaranteed by C&F Bank and insured by the Federal Deposit Insurance Corporation up to $250,000 per depositor, per ownership category. You will never lose money in a C&F Bank CD regardless of what happens in financial markets.

Interest compounds daily on all C&F Bank CDs, meaning your earned interest generates its own interest every day. Over a 60-month term, daily compounding produces meaningfully more income than monthly or quarterly compounding. You can choose to have interest credited to the CD (compounding within the account), deposited into a linked checking or savings account, or mailed as a cheque — whichever suits your cash flow needs.

Key CD Benefits

  • Fixed rate guaranteed for the full term
  • Daily compounding for maximum growth
  • Terms from 3 to 60 months
  • $1,000 minimum deposit
  • FDIC insured up to $250,000
  • Automatic renewal with 10-day grace period
  • Interest payout options: compound, deposit or cheque
  • Track maturity dates via CFFC online banking
  • No market risk — principal guaranteed
  • Available at all 30 Virginia branches

CD Laddering: Maximise Yield Without Sacrificing Access

A CD ladder spreads your deposits across staggered terms so a portion matures regularly.

The primary trade-off with CDs is liquidity. Once you commit funds to a 60-month CD, withdrawing before maturity triggers an early withdrawal penalty. CD laddering solves this by dividing your total deposit across multiple CDs with different maturity dates.

Here is a practical example. Suppose you have $50,000 to invest in CDs at C&F Bank. Instead of placing the full amount into a single 60-month CD, you open five CDs of $10,000 each:

  • $10,000 in a 12-month CD
  • $10,000 in a 24-month CD
  • $10,000 in a 36-month CD
  • $10,000 in a 48-month CD
  • $10,000 in a 60-month CD

After the first year, the 12-month CD matures. You reinvest those $10,000 into a new 60-month CD at the current rate. Each subsequent year, another CD matures, giving you annual access to $10,000 without any early withdrawal penalty. Within five years, every rung of your ladder consists of a 60-month CD earning the highest available rate, yet you still have annual liquidity.

Laddering Benefits

  • Regular liquidity. A portion of your funds becomes available every 12 months.
  • Rate averaging. You capture rates across multiple interest rate environments, reducing the risk of locking everything in at a single rate.
  • Long-term yield. After the ladder is fully built, every CD earns the 60-month rate — typically the highest available.
  • Flexibility. At each maturity, you can reinvest, withdraw or redirect funds to another product like a money market account.

C&F Bank personal bankers can help you design a CD ladder customised to your timeline and cash flow needs. Whether you prefer annual, semi-annual or quarterly maturities, we structure the ladder to match your goals. Visit any branch or call 804-843-2360 to get started.

Maturity, Renewal and Early Withdrawal

Understanding what happens at maturity and the cost of early withdrawal helps you plan effectively.

At Maturity

C&F Bank sends a maturity notice 10 days before your CD term ends. You then have a 10-day grace period after maturity to take action: withdraw funds to your checking or savings, change the term for renewal, add additional funds, or instruct the bank not to renew. If you take no action during the grace period, the CD automatically renews into a new CD of the same term at the current posted rate.

You can track all CD maturity dates through CFFC online banking. Set up account alerts to receive an email or push notification as your maturity date approaches, so you never miss the grace period window.

Early Withdrawal

If you need to access CD funds before maturity, an early withdrawal penalty applies. For terms of 12 months or less, the penalty equals 90 days of interest. For terms longer than 12 months, the penalty equals 180 days of interest. The penalty is deducted from earned interest first. If insufficient interest has accrued (for example, on a very early withdrawal), the penalty may reduce your principal.

To avoid early withdrawal penalties, consider keeping an emergency fund in a liquid savings or money market account alongside your CDs. This ensures you can handle unexpected expenses without touching your locked-in CD funds. A well-designed CD ladder also provides regular access points that reduce the likelihood of needing early withdrawal.

People Also Ask

What CD terms does C&F Bank offer?
C&F Bank offers certificates of deposit in 3-month, 6-month, 12-month, 18-month, 24-month, 36-month, 48-month and 60-month terms. Minimum deposit is $1,000 for all terms. Longer terms generally offer higher rates. All CDs are FDIC insured up to $250,000.
What is the early withdrawal penalty on C&F Bank CDs?
CDs with terms of 12 months or less carry a penalty equal to 90 days of interest. CDs with terms greater than 12 months carry a penalty equal to 180 days of interest. The penalty is deducted from earned interest first. If insufficient interest has accrued, the penalty may reduce principal.
What is a CD ladder and how do I build one at C&F Bank?
A CD ladder divides your deposit across multiple CDs with staggered maturity dates. For example, place $10,000 each into 12, 24, 36, 48 and 60-month CDs. As each matures, reinvest into a new 60-month CD. This provides annual liquidity while capturing longer-term rates. A C&F Bank personal banker can help you design a ladder at any branch or by calling 804-843-2360.
Do C&F Bank CDs automatically renew?
Yes. C&F Bank CDs automatically renew at maturity into a new CD of the same term at the current posted rate. You receive a maturity notice 10 days before maturity and have a 10-day grace period to withdraw, change terms, add deposits or cancel renewal. Set maturity alerts through CFFC online banking.
How much do I need to open a CD at C&F Bank?
The minimum deposit for all C&F Bank certificates of deposit is $1,000. There is no maximum limit, though FDIC insurance covers up to $250,000 per depositor, per ownership category. For larger deposits, a C&F Bank advisor can structure accounts across ownership categories to maximise coverage.

Related Personal Banking Services

Pair your CDs with these C&F Bank products for a balanced deposit strategy.

Money Market

Keep liquid reserves in a C&F Bank money market account while longer-term funds earn guaranteed CD rates. Tiered APY with cheque-writing access.

Savings Accounts

Maintain your emergency fund in a C&F Bank savings account so you never need to break a CD early. Regular and high-yield options available.

Checking Accounts

Have CD interest deposited directly into your C&F Bank checking account for spending, or let it compound within the CD for maximum growth.