Invest in a sure thing.
Save more and earn more! Grow your hard-earned cash and reach your savings goals faster. No matter what you’re saving for, we have rates that can help you achieve your goals and dreams.
We have the right solution for you.
Whether you are looking for a traditional CD with a fixed rate or a more flexible option, we have the right option for you.
8 Month CD Special
3.62% APY*
Put your savings to work with our limited time 8 month CD Special. Stop by any Alerus location to open your account.
20 Month CD Special
4.00% APY*
Looking for a longer term savings option? Our 20 Month CD Special offers a competitive fixed rate for your deposit. Stop by any Alerus location to get started.
Regular Term CD
Choose our regular term CD for reliable savings with a guaranteed return.
- $2,500 minimum deposit
- Terms ranging from 6-84 months
Frequently Asked Questions
Can I add more money to my CD after opening it?
For regular term CDs and CD specials, additional deposits are not allowed after the account is opened.
What happens if I need to withdraw my money before the CD matures?
Early withdrawals may incur penalties, which could reduce your earnings. It’s important to choose a CD term that aligns with your financial goals.
What happens when my CD matures?
When your CD reaches maturity, you’ll have a few options. You can withdraw the funds, roll them over into a new CD, or transfer them to another Alerus account. We’ll notify you in advance of your CD’s maturity date so you can make the best decision for your financial situation.
How is interest on my CD calculated and paid out?
At Alerus, interest on your Certificate of Deposit (CD) is calculated using the daily balance method. This means that the interest is accrued based on the balance in your CD each day. The term of your CD determines when the interest is paid out. For specific details regarding your CD, please refer to your account agreement or contact our client service center at 800.279.3200.