First Mid Bank & Trust 9-Month CD: 3.50% APY with Just $1

If you're looking for a safe place to stash some cash for a short term and earn a decent return, First Mid Bank & Trust has a 9-month Certificate of Deposit that's worth a look. The rate just dropped a bit from 4.00% to 3.50% APY as of early November, but it's still competitive, especially considering how low the minimum deposit is.

Why This CD Stands Out

First Mid Bank & Trust has been around for over 150 years, so they're not some fly-by-night operation. That kind of track record matters when you're parking your money. They're a full-service bank, but this CD is available to anyone nationwide through their online platform.

The real draw here is the combination of a competitive rate and an incredibly low barrier to entry. You can open the account with just one dollar. No, that's not a typo. And there's no cap on how much you can deposit, so if you've got a larger sum to set aside, you can earn that 3.50% on the whole amount.

• Low minimum deposit of $1 makes it accessible for almost anyone.
• No maximum deposit limit, so you can invest as much as you want.
• FDIC insured, so your money is protected up to $250,000.
• No monthly fees or hidden charges.
• 24/7 online access to manage your account.

A Few Things to Keep in Mind

CDs are great for guaranteed returns, but they come with a trade-off: you can't touch your money without penalty until the term ends. For a 9-month CD, that's not a huge commitment, but make sure you won't need those funds before May 2026 (assuming you open it soon).

Also, rates have been trending down. The 3.50% APY is a drop from the previous 4.00%, so if you're on the fence, locking in now might be smart before they fall further. Always compare with other top CDs—some banks are still offering 4% or more on similar terms, but often with higher minimums.

How It Compares

Right now, you can find 9-month CDs from other institutions offering rates between 3.50% and 4.10% APY. For example, Live Oak Bank has a 12-month CD at 4.10% APY, and Service Credit Union offers 4.00% APY on a 12-month term. But those might require larger deposits or have different term lengths.

First Mid's offering is solid for its flexibility—no max deposit and a tiny minimum. If you're just starting to build your CD ladder or want to test the waters with a small amount, this is a low-risk way to do it.

Bottom Line

• 3.50% APY on a 9-month CD with only $1 minimum.
• No maximum deposit and no fees.
• FDIC insured and available nationwide online.
• Rate decreased from 4.00% in early November 2025—consider locking in soon.

Common Questions