Certificates of Deposit (CDs): At First National Bank and Trust Company, You Have Options

First National Bank and Trust Company offers two different types of CDs, plus, a companion deposit account option.


Traditional CDs offer low risk investments. Choose from a number of terms and lock in your rate. It's that easy!

  • Competitive, fixed rates, higher than regular savings
  • Guaranteed returns
  • Set aside for future savings goals
  • A wide range of terms available (from six months to five years)
  • Early withdrawals subject to penalty
  • Jumbo CDs available
  • $2,500 minimum deposit to open


Open a CD... withdraw early... collect a bonus! When rates drop, our CDtwo® rises.

Some CDs have substantial penalties for early withdrawal, while others claim "no-penalties". Have you heard of a CD that pays you a bonus when you withdraw early?

When rates change our CDtwo*, a next-generation CD, gives you options – including a bonus when you withdraw early and interest rates have declined. CDtwo is the same as a traditional CD, except without a standard early withdrawal penalty. Like any other CD, it pays a fixed rate of interest over the life of the deposit. The client can keep their money in the account and earn the stated rate to maturity.
Choices – Terms to maturity can be selected up to 60 months. Hold the CD to maturity or redeem early and collect a possible bonus.
Stability – CDtwo is insured up to the $250,000 FDIC deposit insurance limit, which means your principal and interest is protected.
Flexibility – The decision and timing of any early withdrawal is entirely yours. Contact a Universal Banker for details.

How do CDs work?

When you open a certificate of deposit, you agree not to withdraw the funds until a specified maturity date. This date could be several months or several years from when you open your CD. Keep in mind, if you decide to withdraw your funds prior to the maturity date you may have to pay a penalty. The size of these penalties varies by financial institution.

What has changed?

Most people think you have to wait until maturity to get higher interest rates. CD interest rates have been rising. This allows depositors opportunities to make more money on their existing CDs by taking action before maturity. Most banks don’t want depositors to know this. We are not most banks, so we are getting the word out. 

How do I upgrade my current CD?

If you currently hold a certificate of deposit at a financial institution, you could have a unique opportunity to upgrade your CD in this new rate environment. Similar to how homeowners refinance their mortgages when interest rates decrease, CD holders can refinance their old contracts for new ones as interest rates increase. One approach is to open a new contract that matures on the same date as the original contract. This eliminates any risk to the depositor as you can choose between old or new based on which one gives you the most money at the same future maturity date. Even after paying a penalty, you could be like many others today who come out ahead! 

How do I know if I can get a better CD rate?

Call your local banker and let them know you want to upgrade your current CD in this new rate environment. Additionally, you can use this self-service calculator to check the market redemption value of your current CD. You and your loved ones could be wasting thousands of dollars by waiting until your maturity date. It costs you nothing to run the numbers. 

Companion Deposit Accounts

Companion Deposit Account**…. An account to accompany newly issued CDs. 

Provides savers the best in savings - high yield and no commitments.

New First National Bank and Trust Company CD account holders are eligible for our premium-priced Companion Deposit Account of equal or lesser size to your new CD. This hybrid account offers yields like a CD and the access to withdraw at any time like a savings. 

What comes with a CD? 

A CD comes with many perks including access to online banking and mobile banking. Plus, learn about CDARS®. CDARS offers multiple benefits to investors who want to combine the security of access to FDIC insurance with the convenience of working directly with just one financial institution. Learn more by clicking on the icons. 

How do I open one of these new accounts? 

If you’re interested in learning more about CDs, CDtwo or Companion Deposit Accounts at First National Bank and Trust Company, simply contact us via phone, email, in-person or choose "Connect Now" below to get started.

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DO MORE with your money at First National Bank and Trust Company

At First National Bank and Trust Company, we IGNITE PROSPERITY® by helping our clients do more with their money. Whether it’s saving a little extra cash each month or accomplishing a long-term strategy, our goal is to help you transform your financial life. Call and schedule an appointment today, one of our team members would love to help you do more with your money at First National Bank and Trust Company. First National Bank and Trust Company has locations in Illinois and Wisconsin. For more information visit firstnbtc.com or contact us at 217-935-2148 in Illinois or 866-566-2265 in Wisconsin. #igniteprosperity

*CDtwo is a trademark of Stanley Performance Strategies LLC. Partial withdrawals are allowed. Penalty for early withdrawal only if interest rates rise. Penalty for the first 7 days is 7 days of interest. After the first 7 days, the penalty/bonus is determined by the Replacement Fee. The Replacement Fee is an estimate of the interest cost to us if we were to replace a CD that is withdrawn early with another deposit having a term that is comparable to the remaining term of the original CD. 5 month - 60 month terms available. If interest rates have risen, then the cost of the new deposit will be higher. If interest rates have fallen, then the cost of the new deposit will be lower. First National Bank and Trust Company reserves the right to limit deposits to this account. $10,000 minimum to open. First National Bank and Trust Company, Member FDIC. Equal Housing Lender.

**Companion Deposit Account must be opened or funded the same day as the associated time deposit (CD). Only available to new clients with new deposits. New deposits are defined as new money from outside of the institution or a maturing CD within its grace period at First National Bank and Trust Company. No minimum deposit required to open. No minimum balance requirement or monthly service charge. No transaction fee. Interest compounded monthly, credited monthly. Unlimited withdrawals in person. Personal accounts only. First National Bank and Trust Company, Member FDIC.