A certificate of deposit (CD) is a type of savings account where individuals deposit a lump sum for a fixed term and receive a guaranteed interest rate. CDs provide a predictable and secure way to grow money, with funds locked in until maturity. Because the deposit is inaccessible for the term, CDs typically offer higher interest rates than standard savings accounts. Your institution can offer CDs to consumers and businesses through Narmi Grow's online and staff-led flows, driving deposit growth, securing funding stability, and deepening customer relationships.
Note: Though consumer CDs are supported on all cores, business CDs are only supported on the COCC, Fiserv DNA, and FIS IBS cores. Please contact us if your institution uses a different core and would like to offer business CDs.
Adding a CD Product
To add a new CD product, go to Narmi Command, under Account opening > Product List Manager. Select one of the following tabs: Consumer banking, Business banking, Consumer staff-led, or Business staff-led, then select Add product > CD. For complete instructions, go to Add a New Product.
CD Selection
Applicants can select one or more CD products from the Account selection page in the Consumer or Business Account Opening flow. Your staff can also select CD products in the Account selection step of the Staff-Led Account Opening flow.
If your institution is on the IBS or Premier cores and would like to show additional information for CDs on the Approval page (such as CD rate, maturity date, term, and issue date), go to Narmi Command under Institution Settings > Display additional info for CDs on opened screen and set it to True.
Once opened, applicants receive an email informing them that a CD has been opened. Your institution can configure the email in Narmi Command, under Institution settings > CD Account Opened Email Template.
For compliance purposes, your institution can include the information sent in the certificate of deposit email on the last page of the application record/membership card PDF. To do this, go to Narmi Command under Configurations > Institution settings > Include CD Email Content on Membership Card, and set it to true.
Users can view their CD account in Narmi Banking via Accounts > CDs. For information on accessing accounts, go to Navigating to the Accounts Page.
The fields displayed under Account details will vary depending on your core, but may include:
Account number
Routing number
Maturity date
Dividend rate
APY
Open date
Last dividend
Dividend last year
Dividend year to date
