Certificates of Deposit (CDs)

Earn while you save at M&T Bank. Open a CD and enjoy a rate of return you can count on.

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Top Features

  • Fixed or variable rate for the term of the CD – from 32 days to 72 months
  • Optional beneficiary designation
  • CDs must be opened at your local branch
  • Accounts are FDIC-insured up to the maximum applicable limit

Penalties

Early Withdrawal Penalty (for account terms greater than 364 days):

​​$50 plus 182 days’ interest on the non-interest portion of the withdrawal computed, without compounding, at the interest rate in effect when the withdrawal is made if the term of the account during which the withdrawal is made is more than 364 days; or
​

Early Withdrawal Penalty (for account terms less than 365 days)

$25 plus 91 days’ interest on the non-interest portion of the withdrawal computed, without compounding, at the interest rate in effect when the withdrawal is made if the term of the account during which the withdrawal is made is less than 365 days.

Is this product right for you?

This product is best for people who:

  • Are looking for a reliable savings interest rate
  • Are comfortable locking in their money for a period of time
  • Want a savings portfolio that includes low-risk accounts
  • Seek FDIC-insurance coverage up to the maximum limits
  • Want to add diversity to existing savings portfolios ​

Eligibility Requirements

  • The minimum deposit required to open:
    • CDs - $1,000
  • M&T Select CD accounts require a qualifying M&T Bank checking account to open:
    • Customer must have or open one of the following qualifying checking accounts: MyChoice Premium Checking, M&T Select, M&T Select With Interest, Employee M&T Select With Interest, Power Checking or Portfolio Management Account​​
  • CDs must be opened at an M&T Bank branch.​
To open an M&T Select® CD, customer must have or open a MyChoice Premium℠ Checking, M&T Select®, M&T Select® With Interest, Employee M&T Select® With Interest or Power Checking account. The minimum deposit required to open any CD account is $1,000. After CD is opened, the minimum balance to obtain the advertised APY is $1.00. APYs stated are accurate as of today's date. A penalty may be imposed for early withdrawal. Fees could reduce earnings on the account. Offer not available for non-personal accounts and may not be available at all M&T Bank branches. Maximum deposit is $1 million per customer. Advertised APYs cannot be combined with any other offer. Rates are subject to change without notice.

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Certificates of Deposit (CDs)

Interest Rate

Annual Percentage Yield (APY)

Please visit an M&T Bank branch near you, or call us at 1-800-724-3222 to set up an appointment with a Relationship Banker. 

Interest is computed each day using the daily balance method. We apply 1/365 of that day's interest rate to the available balance. Interest is compounded daily and credited at the end of the day before each maturity date. If requested, interest may also be credited at a different frequency. 

You may choose a credit to your account, a credit to your account that is immediately transferred to your M&T checking or savings account, or a credit to your account that is immediately withdrawn and paid by check.

Yes. A penalty may be imposed for early withdrawal. You can withdraw deposited funds from the CD without a penalty at maturity. For automatically renewed accounts, you may withdraw funds during the 10 calendar day grace period after the maturity date, provided that you haven't already added or withdrawn funds during an earlier transaction within the grace period.

Prior to maturity, we will send you a reminder by mail with information on the renewal process and your account terms.

For automatically renewable CD accounts, money can be added during the 10 calendar day grace period after the maturity date, provided that you haven't already added or withdrawn funds during an earlier transaction within the grace period. You can also choose to open an unlimited number of additional CDs, but promotional interest rate eligibility is limited to a maximum of $1 million in deposits per customer.

Yes. Interest disbursements can be automatically made to a linked M&T Checking or M&T Savings account or by a mailed check. Interest disbursements can also be made at your local M&T branch.

Yes. You may make a withdrawal without penalty, make a deposit, close the account, or change the length of your term on any maturity date of the account or within 10 calendar days after any maturity date on automatically renewable regular time deposit accounts.

Unless otherwise specified, all advertised offers and terms and conditions of accounts and services are subject to change at any time without notice. After an account is opened or service begins, it is subject to its features, conditions and terms, which are subject to change at any time in accordance with applicable laws and agreements. Please contact an M&T representative for full details.