Home Why CDARS

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Why CDARS?

CDARS® offers multiple benefits to depositors who want to combine the security of access to FDIC insurance above $250,000 with the convenience of working directly with just one financial institution.

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Peace of Mind

Using the CDARS service, you can access multi-million-dollar FDIC insurance on CD investments.1

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One Relationship

You work directly with a local CDARS Network member – a financial institution you know and trust.

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One Rate

You negotiate one interest rate per maturity on CD investments placed through CDARS. There is no need to negotiate multiple rates per maturity or tally disbursements manually for each CD.

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One Statement

There is no need to manually consolidate statements. You receive one easy-to-read statement detailing all of your CD holdings.

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No Hidden Fees

You will not be charged annual fees, subscription fees, or transaction fees for using CDARS. The rate you see is the rate you get.

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No Ongoing Collateralization

Because CDARS deposits are eligible for FDIC protection, you may not need to collateralize your deposits. This can eliminate the time-consuming task of tracking changing collateral values on a recurring basis.2

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A Wide Variety of Maturities

You can select from various maturities – ranging from 4 weeks to 260 weeks (5 years) – and choose the terms that best suit your investment needs.

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Community Investment

Your funds can support lending initiatives that strengthen your local community.3 See CDARS for Socially Responsible Investors, or view a short video about one local bank's impact on the community thanks to CDARS. 

[1] Limits apply. Funds may be submitted for placement only after a depositor enters into a CDARS Deposit Placement Agreement with a CDARS participating institution. This agreement contains important information and conditions regarding the placement of funds.

[2] If a depositor is subject to restrictions with respect to the placement of funds in depository institutions, it is the responsibility of the depositor to determine whether the placement of the depositor's funds through CDARS, or a particular CDARS transaction, satisfies those restrictions.

[3] When deposited funds are exchanged on a dollar-for-dollar basis with other banks in the CDARS Network, the relationship institution can use the full amount of a deposit placed through CDARS for local lending, satisfying some depositors' local investment goals or mandates. Alternatively, with a depositor's consent, the relationship institution may choose to receive fee income instead of deposits from other participating institutions. Under these circumstances, deposited funds would not be available for local lending.

CDARS is a registered service mark of Promontory Interfinancial Network, LLC

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Placement of funds through the CDARS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits apply. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before CDARS settlement for a deposit or after CDARS settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of CDARS satisfies those restrictions. CDARS, ICS, and Insured Cash Sweep are a registered service mark of Promontory Interfinancial Network, LLC.

© 2020 Promontory Interfinancial Network, LLC | Patents
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