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Small Business

Allow your small business's money to grow through a competitive certificate of deposit (CD).

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Opening a Small Business CD Account

Opening a CD is a reliable way for your small business to grow using money it's already earned. When you open a CD with Midland States Bank, we'll hold your account in an FDIC-insured savings account with a fixed interest rate. Deposit funds up to 60 months. Terms of 6, 12, or 24 month CDs can be opened online.

CD Account Details


Minimum Opening Deposit $500

Deposits / Contributions No

Fixed Rate Yes

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Turn Your Business Savings Into Even More

Open a CD account with Midland States Bank to return your earnings into even more money. Here's how it works:

  • Choose your term. Deposit funds up to 60 months. Terms of 6, 12, or 24 month CDs can be opened online.
  • Grow your funds. Collect interest according to a competitive fixed APY*.
  • Continue the cycle. Automatically reinvest what you earn at the end of your term.

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Who We Are

We offer premier CD accounts for small businesses. Take advantage of:

  • Competitive rates: Grow your funds with some of the highest CD rates.
  • Compounding interest: Earn more with interest that compounds every three months.
  • Flexible terms: Take control of your investment by choosing a term length that makes sense for you.
  • Hassle-free renewal: Continue your upward trajectory by automatically renewing your account at its maturity date.
  • Local expertise: Decide what's right for your business with help from experts based in Missouri and Illinois.

You Have Questions, We Have Answers

You can contact Midland States Bank using one of the methods below and one of our bankers will get you signed up and provided with credentials and access to your banking product.

Methods of Contact:

  1. Open a 6, 12, or 24 month CD online
  2. Call 1-855-696-4352
  3. Schedule an appointment or stop by a local branch to open a CD with terms ranging from 1- 60 months.

Our minimum deposit for CDs is $500.

You'll keep your money in the CD for up to 60 months depending on the specific term you choose. You may renew your CD at the maturity date.

Yes, but an early withdrawal penalty will apply.

Yes, CDs automatically renew with the same term at the maturity date.

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Ready To Take Your First Step?

Whether you’ve been running a business for years or just starting out, we’re here to help by phone or in-person. Or complete the form below and a Midland States Bank representative will be in touch to understand more about your story and connect you with options.

1-855-696-4352, Select Option 5

Schedule Appointment

*Minimum Balance Requirement: You must make a minimum deposit to open this account as stated above. You must maintain this minimum balance on a daily basis to earn the disclosed annual percentage yield. Maturity Date: Each CD account matures at the conclusion of the term of the original CD. CD Terms: You must notify us in writing before or within a 10-day grace period after, the maturity date, if you do not want your account to automatically renew or change the terms of, or withdraw money from your CD. Interest is not paid during the grace period unless renewed. Annual percentage yield assumes interest will remain on deposit until maturity and a withdrawal will reduce earnings. Accrual of interest on noncash deposits - Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks.). Compounding and crediting for Certificate of Deposit Accounts - Interest will be compounded every 3 months and interest will be added back to the principal every three months. We reserve the right to at any time require not less than 7 days notice in writing before any withdrawal from an interest bearing account. Balance Computation Method - We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Early Withdrawal Penalties: 3 month Term will equal 1 month of accrued interest. Terms of 4 - 6 months will equal 3 months of accrued interest. Terms of 7 - 17 months will equal 6 months of accrued interest. Terms of 18 months or greater will equal 12 months of accrued interest. Transaction Limitations: You cannot make additional deposits to this account during a term (other than credited interest). You cannot withdraw principal from this account without our consent except on or after maturity. (For accounts that automatically renew, there is a grace period after each renewal date during which withdrawals are permitted without penalty.).

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