CD Frequently
Asked Questions
What is a certificate of deposit?
A certificate of deposit (CD) is a way for you to invest your money so that it earns high interest. A deposit into your National Bank Of Kansas City account will allow you to invest in a CD easily and at any time.
When you put money into a CD your money grows by earning interest daily. Once the CD matures, you will have access to all of the money you deposited into the CD or you can choose to reinvest the funds in another CD.
Who do I talk to if I have questions about certificates of deposit?
Call our toll free number, 1-888-905-2165, or complete our online contact form. A Bank Representative will be happy to speak with you about our high-interest deposit CDs.
How does a CD deposit work?
Using the National Bank Of Kansas City CD rates chart, you can choose which certificate of deposit to open based on how long you want the money to be held in the CD. Contact National Bank Of Kansas City and ask to complete our simple CD account opening application. Once the CD is open, we can transfer funds from your account into the CD where your deposit will earn interest every day until the designated maturity date. Once mature, you can withdraw the funds, roll the CD over into another term, or put the funds into another NBKC account.
Where does the money from interest go?
National Bank Of Kansas City offers great CD rates. The interest earned on your CD deposit can either be reinvested or deposited into your account for you to spend.
What if I want to withdraw money early?
After you deposit funds into a certificate of deposit, you are encouraged not to withdraw before the CD matures. If you do, you will pay a penalty as outlined in your original contract.
Are CDs insured?
National Bank Of Kansas is a member of the Federal Deposit Insurance Corporation (FDIC) and so all account holders are insured up to $250,000—including certificates of deposit.
Why is a CD a good idea?
Certificates of deposit are a good idea because they are a high interest deposit and offer a higher interest rate than a savings account and treasury bills and notes. Because National Bank Of Kansas City is FDIC insured, your CD deposit is less risky than a lot of other investments too.
Are CDs best for businesses or individuals?
Certificates of deposit are ideal for both businesses and individuals. National Bank Of Kansas offers seven different CD terms ranging from three months to 60 months, both of which can be accessed by businesses or individuals.
Are CDs for everyone?
A certificate of deposit is an excellent investment choice for an individual or business who has a minimum of $10,000 in cash to invest and can manage their finances without access to that cash for at least three months. See the National Bank Of Kansas City CD rates sheet for details.
