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A happy grandfather who has a Certificate of Deposit account is walking in a park with his grandson on his shoulders

Earn competitive interest and flexible terms with a First Midwest Bank CD.

Certificates of Deposit

Certificates of Deposit (CDs) are an excellent investment for those who do not need the liquidity of a traditional savings or money market account and want a predictable return on their investment.1 All First Midwest CDs offer:

  • Competitive interest rates credited monthly or quarterly — interest can also be paid out by check or automatically transferred to another First Midwest account
  • Flexible terms to match your investments with short or medium-term savings goals
  • Automatic renewal at maturity, with grace period

Plus, clients with an existing First Midwest relationship may be entitled to a rate enhancement – ask your First Midwest Banker for details.

Popular CD Account Options

6 Month CD

Start with a low opening balance and open this short term CD with as little as $1,000. Interest is compounded and credited monthly.1

Open Account

12 Month CD

A 12 Month CD is a good way to build your savings and keep your peace of mind. Start saving now for next year’s projects, college tuition, or retirement.1

Open Account

24 Month CD

A 24 Month CD is a good option for guaranteed growth. Lock-in your interest rate for protection against volatility in the markets.1

Open Account
A father who used a Certificate of Deposit to save for college is hugging his son while they arrive on campus

View All of Our Competitive CD Rates

First Midwest offers Certificates of Deposit (CDs) for clients who strive to earn the best possible return on their savings. Each CD features a competitive Annual Percentage Yield (APY) and convenient terms.

View Rates

“Laddering” Your CDs

When considering investing in CDs, talk with your First Midwest Banker about a CD laddering strategy.

  • Instead of opening a single, long-term CD, you open several CDs at different terms
  • As each CD matures, those dollars are used to open another CD in a term that coordinates with the design of your customized laddering approach
  • Achieving the right balance between yield and security can be challenging, so CD laddering is a great way to manage a steadier income stream and appreciate a higher average yield in the long run

As with any investment, a laddering approach involves a degree of commitment. It is also important that your money is liquid when you need it — something you should consider when determining how high your CD ladder should go and how far apart the rungs should be. Your First Midwest Banker is ready to help. Find a branch near you.

Complete Your Account

If you have already opened your CD account online and have begun the process of transferring money into it from another account, you may have received instructions to verify test transactions. Please click the button below to complete your account.

1 Online account opening is available to residents of Illinois, Indiana, Iowa and Wisconsin. $1,000 minimum deposit to open a CD account; both renewable and non-renewable terms. If the CD is established as an IRA, the minimum balance to open is $500. Penalty may be imposed for early withdrawal. Fees may reduce account earnings.