Let time earn you money. First Federal offers a range of certificates of deposit (CDs) with some of the best rates in the Kansas City area. With only $1,000 needed to start, you can secure your savings while they earn interest. Achieve your goals with a high-interest CD today.
Deposit Rates
Rates accurate as of 3/12/2026 and subject to change without notice.
| Terms of deposit | Interest Rate | APY* | Min. Balance to Earn APY |
|---|---|---|---|
| 3-Month CD** | 3.75% | 3.80% | $1,000 |
| 6-Month CD** | 3.47% | 3.50% | $1,000 |
| 12-Month CD | 3.60% | 3.65% | $1,000 |
| 18-Month CD | 2.28% | 2.30% | $1,000 |
| 24-Month CD | 1.99% | 2.00% | $1,000 |
| 30-Month CD | 1.99% | 2.00% | $1,000 |
| 36-Month CD | 1.99% | 2.00% | $1,000 |
| 48-Month CD | 1.99% | 2.00% | $1,000 |
| 60-Month CD | 1.99% | 2.00% | $1,000 |
**3-Month and 6-Month CDs are not eligible for Individual Retirement Accounts (IRAs)
Reach your savings goals
No matter what you’re saving for, a CD is one of the best strategies to get started on the right path. With a guaranteed rate and a set timeline, it helps you stay focused on reaching your goals. A CD is a great way to save for:
- A vacation or travel fund
- A major purchase (car, furniture, appliances, or electronics)
- A home purchase down payment or improvement project
- College tuition or other education expenses
- Building an emergency savings cushion
- A CD laddering strategy for secure, predictable investing Learn more >
Why is a CD the right choice for my savings?
A Certificate of Deposit (CD) can be a good spot for cash you are looking to keep safe for a dream down the road. Not only will your money be protected, it will also earn interest. From 3-month to 5-year CDs, you can choose the length of time that will work best for your situation.
Need help deciding which CD strategy would be best for you? Our team is here to help. Visit a branch or contact us today.
How much interest can I earn with a CD?
Use our CD calculator to determine your potential earnings based on the time, interest rate, and amount of cash you put in.
Frequently asked CD questions
What is a CD?
A Certificate of Deposit (CD) is a type of savings account that lets you earn a fixed interest rate in exchange for keeping your money deposited for a specific period of time, called the term.
CD terms can range from a few months to several years. During that time, your interest rate stays the same, which can make CDs a predictable way to grow your savings.
How does a CD work?
When you open a CD, you deposit a set amount of money for a fixed term, such as 6 months, 12 months, or longer. In return, First Federal pays you a guaranteed interest rate for that entire period.
Here’s the basic process:
- Choose a term that fits your savings goals.
- Deposit your funds into the CD.
- Earn interest at the fixed rate throughout the term.
- Receive your funds plus interest when the CD reaches maturity (the date when the CD’s term ends and you can withdraw your money without penalty).
- Because CDs are designed for savings you don’t need right away, withdrawing funds before the maturity date may result in an early withdrawal penalty.
Should I get a CD or savings account?
Both are great tools for saving, but they work best for different goals.
A CD may be a good choice if you:
- Want a higher, fixed interest rate
- Don’t need immediate access to the money
- Are saving toward a specific future goal
A savings account may be better if you:
- Need flexible access to your funds
- Want to add or withdraw money anytime
- Are building an emergency fund
Many people use both—a savings account for everyday flexibility and a CD for funds they want to grow over time. Take a look at our savings accounts to see what choice might be best for you!
When do I receive the interest from my CD?
Depending on on CD term length, you can opt to have the interest removed from your CD account when it accrues each quarter or let it roll over and accumulate until the end of your CD's term.
Do I have to pay taxes on my CD?
Yes. The interest earned on a CD is considered taxable income in the year it is earned.
We will provide a Form 1099-INT if your interest earnings meet reporting requirements. Because tax situations vary, it’s always a good idea to consult a tax professional if you have questions about how CD interest may affect your taxes.
How can I view the interest I am earning on my CD?
All First Federal accounts offer an easy-to-use online banking platform and app to view and manage all of your accounts.
What is CD laddering?
A CD laddering strategy is a way to invest in multiple Certificates of Deposit (CDs) with different maturity dates so you can regularly access your money while still earning higher interest rates.
Instead of putting all your money into one long-term CD, you divide it among several CDs that mature at staggered times (for example, 1-year, 3-year, and 5-year CDs). As each CD matures, you can either use the money or reinvest it into a new long-term CD.
CD laddering helps you balance three things:
- Better interest rates from longer-term CDs
- Regular access to cash as CDs mature
- Reduced risk if interest rates change
In simple terms, it’s a smart way to keep your savings growing while maintaining flexibility.
What are the benefits of getting a CD with a community mutual bank?
Mutual banks (like us) are true community banks. We don't have owners or stockholders, and our profits are reinvested back into the bank and the communities we serve. Opening a CD with a community mutual bank like First Federal Bank of Kansas City offers several advantages.
Personalized service
We strive to provide personalized support and take time to help you choose savings options that fit your goals. Visit a branch or contact us today!
Local investment
At a mutual bank, deposits help support lending and economic growth in the local community.
See our work in Kansas City and the surrounding communities >
Customer-focused approach
As a mutual bank owned by our depositors rather than shareholders, we prioritize our customers' well-being. Our goal is your financial success.
