Featured CD Specials
Compare FSB's featured certificate of deposit specials below. Each CD has a fixed term and fixed APY, with a $1,000 minimum deposit. Additional fixed-rate CD terms are available farther down the page.
Effective September 5, 2026
$1,000 minimum deposit required.2
More Fixed-Rate CD Options
Need a shorter or longer savings timeline? Compare FSB's standard fixed-rate CD terms below. All listed CDs require a minimum deposit of $1,000.2
| Fixed Rate CDsMinimum Deposit of $1,000.00 Required | APY† | Rate† |
|---|---|---|
| 1 Month | 0.30% | 0.30% |
| 3 Months | 0.35% | 0.35% |
| 6 Months | 2.50% | 2.48% |
| 12 Months | 3.03% | 3.00% |
| 24 Months | 3.00% | 2.97% |
| 36 Months | 0.85% | 0.85% |
| 48 Months | 0.95% | 0.95% |
| 60 Months | 1.05% | 1.05% |
APY = Annual Percentage Yield. Rate = Interest Rate. Rates are subject to change without notice.
How Does a Certificate of Deposit Work?
A certificate of deposit, or CD, is a deposit account that earns a fixed rate for a set period. You choose a term, make your opening deposit, and keep the funds in the CD until maturity.
FSB compounds and pays CD interest quarterly.2 If you want a deeper explanation before choosing a term, read our guide to how CDs work.
- Choose a term: FSB offers featured CD specials plus standard terms ranging from 1 to 60 months.
- Lock your rate: A fixed-rate CD keeps the stated rate in place for the CD term.
- Plan for maturity: Choose a term based on when you expect to need the money.
- Know the withdrawal rules: A penalty for early withdrawal may apply, including possible loss of principal.2
How to Choose the Right CD Term
The highest APY isn't always the right choice if the term doesn't match your timeline. Start with when you expect to need the money, then compare the available APYs and account terms.
1
Pick your timeline. Choose a maturity date that matches the goal you are saving for.
2
Compare APY and term together. Review the featured CD specials and standard terms before deciding.
3
Keep access needs in mind. Money you may need sooner may fit better in a savings or money market account.
CD vs. Savings or Money Market Accounts
A CD is designed for money you can leave on deposit for a set term. Savings and money market accounts offer more flexibility when you need ongoing access to your funds.
| Feature | Certificate of Deposit | Savings Account | Money Market Account |
|---|---|---|---|
| Rate structure | Fixed for the CD term | Variable | Variable |
| Access to funds | Designed to stay on deposit until maturity | More flexible access | More flexible access |
| Early withdrawal consideration | Penalty may apply | Account terms apply | Account terms apply |
| Good fit for | Money you can set aside for a defined period | Shorter-term savings and emergency funds | Larger balances that still need liquidity |
CDs from a Local Iowa Bank
Farmers State Bank has served Iowa communities since 1927. You can start a CD inquiry online and work with local bankers serving Alburnett, Cedar Rapids, Hiawatha, Marion, Tiffin, and surrounding Eastern Iowa communities.
Prefer to meet in person? Find an FSB branch near you.
“Opening a CD was fast & easy, and the staff was incredibly helpful.”
Dianna G., Cedar Rapids Location
Frequently Asked Questions About CD Rates in Iowa
Compare CD options and understand what to expect before choosing a term.
What are the best CD rates in Iowa?
+The best CD rate for you depends on the APY, term length, minimum deposit, early withdrawal rules, and when you expect to need the money. FSB lists its featured CD specials and standard fixed-rate terms on this page so you can compare your options in one place.
What is the minimum deposit to open an FSB CD?
+FSB requires a minimum deposit of $1,000 to open a certificate of deposit. Additional terms and conditions apply.
What CD terms does FSB offer?
+FSB offers the featured special terms shown at the top of this page plus standard fixed-rate CD terms of 1, 3, 6, 12, 24, 36, 48, and 60 months. Rates and available terms are subject to change.
What is the difference between APY and interest rate on a CD?
+The interest rate is the stated rate paid on the CD. APY, or Annual Percentage Yield, reflects the effect of compounding over a year. FSB CD interest is compounded and paid quarterly.
Are FSB CDs FDIC-insured?
+Yes. Farmers State Bank is an FDIC-insured bank, and eligible CD deposits are insured within applicable FDIC limits. Coverage depends on factors such as account ownership category and other deposits held at the same insured bank.3
Can I open a CD online in Iowa?
+You can start the process online by submitting FSB's CD inquiry form. A local FSB banker will contact you to confirm the account details and help complete the opening process.
What happens if I withdraw money from a CD before maturity?
+A penalty for early withdrawal may apply, including possible loss of principal. Review the current CD disclosures before opening an account and choose a term that fits when you expect to need the funds.
Should I choose a shorter-term or longer-term CD?
+Choose a CD term based on when you expect to need the money, not APY alone. A shorter term gives you an earlier maturity date, while a longer term keeps your fixed rate in place for more time. Compare FSB's current terms and APYs before deciding.
CD Disclosures
Subject to approval. Additional terms and conditions apply; see each product for respective disclosures.
†All rates are subject to change without notice. Interest-bearing account – refer to FSB rate sheet for information on Interest Rates and Annual Percentage Yields. Fees may reduce earnings. FSB is not responsible for typographical errors or omissions.
†All rates are subject to change without notice. Interest-bearing account – refer to FSB rate sheet for information on Interest Rates and Annual Percentage Yields. Fees may reduce earnings. FSB is not responsible for typographical errors or omissions.
1Fees assessed if requirements not met plus applicable sales tax. Fees may reduce earnings.
2Annual Percentage Yield (APY) subject to change without notice. Minimum deposit of $1,000.00 required. Existing CD renewals not subject to the special rates at maturity unless specifically requested at maturity. Interest is compounded and paid quarterly. Fees may reduce earnings. Penalty for early withdrawal may apply, including loss of principal. For current rate information, call (319) 377-4891 or see FSB Rates for the full list of CD Offerings. Rate = Interest Rate.
3Link to the FDIC Calculator.
2Annual Percentage Yield (APY) subject to change without notice. Minimum deposit of $1,000.00 required. Existing CD renewals not subject to the special rates at maturity unless specifically requested at maturity. Interest is compounded and paid quarterly. Fees may reduce earnings. Penalty for early withdrawal may apply, including loss of principal. For current rate information, call (319) 377-4891 or see FSB Rates for the full list of CD Offerings. Rate = Interest Rate.
3Link to the FDIC Calculator.
