Bank of Botetourt (VA) Hikes 18-Month CD Rate


Deal Summary: 18-month CD, 2.02% APY, $500 minimum deposit.

Availability: Market area is four southwestern Virginia counties.

Earlier this month, Bank of Botetourt raised the rate on its 18-month CD (2.02% APY). The minimum deposit is $500 and there is no stated balance cap. According to an advertisement in The Roanoke Times, this rate is a limited-time offer.

2.52%$2.5k-Bank of Botetourt18 Month CD
Rates as of November 28, 2023.

The 18-month CD was added to the product line in August 2014, earning a dreary 0.35% APY, which was in effect until this month’s 167 bps increase.

As stated on the Personal Certificates of Deposit page, the

Penalty for early withdrawal is nine (9) months for CDs with terms of 13 to 35 months.

24-month IRA

Bank of Botetourt also upped the rate on its 2-year IRA (2.02% APY) this month. The IRA (Traditional and Roth) can be opened with a $100 minimum deposit. The IRA’s previous 0.50% APY had been in place for almost two years before the rate was increased.

0.65%$100-Bank of Botetourt2 Year IRA (Traditional, Roth)
Rates as of November 28, 2023.


Headquartered in Buchanan, Virginia, the Bank of Botetourt’s market area includes four southwestern Virginia counties: Botetourt, Franklin, Roanoke, and Rockbridge.

Opening an 18-month CD and/or a 2-year IRA can be done at any of twelve full-service Virginia branches, located in Buchanan (2), Daleville, Eagle Rock, Fairfield, Lexington, Moneta, Natural Bridge Station, Roanoke (2), Salem, and Troutville.

Bank of Botetourt’s Online Banking system is currently dedicated to account management and bill payment services.

Bank Overview

Bank of Botetourt has an overall health grade of "B+" at, with a Texas Ratio of 15.96% (above average) based on September 30, 2017 data. In the past year, Bank of Botetourt has increased its total non-brokered deposits by $22.33 million, an excellent annual growth rate of 7.05%. Please refer to our financial overview of Bank of Botetourt (FDIC Certificate # 6137) for more details.

Bank of Botetourt (BOT-a-tot) was originally established in 1899 as the Bank of Buchanan. More than 100 years later, the Bank was an early leader in online banking for community banks. Bank of Botetourt was also Virginia’s first state bank to take advantage of the JOBS Act changes, de-registering with the SEC, and later terminating its bank holding company. Two years ago, the Bank opened a mortgage division, Virginia Mountain Mortgage, “to pursue unmet demand for home loans in southwestern Virginia."

How the CD Compares

When compared to the 169 similar length-of-term CDs tracked by, which require a similar minimum deposit and are available within the Bank’s market area, Bank of Botetourt's 18-month CD APY currently ranks fourth.

The above rates are accurate as of 1/23/2018.

To look for the best CD rates, both nationwide and in your state, please refer to our CD Rates Table page.

Related Pages: Roanoke CD rates, 1-year CD rates


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