Certificate of Deposits / IRA's

Account

1 year Savings CD

Traditional CD’s

IRA CD’s

Overview

For those that want to earn a higher rate of interest while preserving insured (1) principal with ability to make multiple deposits during the term. 

For those that want to earn a higher rate of interest while preserving insured (1) principal.

For individuals that want to earn a fixed rate of interest while preserving insured (1) principal.

Interest Earned

Yes - Quarterly

Yes - Quarterly

Yes - Quarterly

Minimum Deposit

$500 minimum to open and $500 minimum deposits

$500 minimum

$500 minimum (3)

Withdrawal Limits

Penalty for early withdrawal:  3 months interest, no partial withdrawals allowed.

Penalty for early withdrawal (2)

Penalty for early withdrawal if under the age of 59 (2)

  1. Deposits insured by the FDIC up to $250,000

  2. Penalty equivalent to 3 months interest if term is 1 year or less OR 6 months interest if term is over 1 year

  3. 18 Month Add On IRA does not have a minimum balance to open

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