CDs and IRAs
Certificates of Deposit
- Terms range from 30 days to 5 years
- Interest rate fixed for the term of the CD
- Minimum investment amount of $1000
- Interest penalty applies to premature withdrawals
- FDIC insured
Step Up CD
- 3 year or 5 year terms
- Interest rate can be adjusted up once during the term of the CD (to the then current 1 year T-Bill Rate plus 50 basis points)
- Minimum investment amount of $1000
- Interest penalty applies to premature withdrawals
- FDIC insured
Starter CD
- Great way to save for a vacation fund or kid's college fund
- 1 year term
- Interest rate fixed for the term of the CD
- Minimum investment amount of $100
- Monthly fixed amount transfers from existing Savings or Checking account
- Interest penalty applies to premature withdrawals
- FDIC insured
- All of the certificates above (except for Starter CD) are available to our IRA customers. The IRA certificates will bear the same interest rates as provided above.*
- Tax deferred, tax deduction
- Save for future retirement
- FDIC insured
*Federal regulations require a penalty for making withdrawals before the age of 59 ½, and, for certificates of deposit, there is a substantial penalty for withdrawal of funds from the certificate prior to maturity.
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