CDARS is the Certificate of Deposit Account Registry Service and is the most convenient way to enjoy FDIC insurance on deposits of up to $50 million. With CDARS, you sign one agreement with Pinnacle Bank, earn one interest rate, and receive one regular statement. Your funds are deposited at institutions across the country and covered via each institution’s FDIC charter. To utilize the CDARS service, you must deposit at least $10,000 above FDIC-insured deposit limits.
CDARS offer the following benefits:
- Access up to $50 million in FDIC protection on CD investments
- Earn one interest rate on all CD investments
- Receive one statement detailing your CD investments
- No hidden fees
- Select from various maturities ranging from 4 to 260 weeks