CDs & IRAs

Certificates of deposit and individual retirement accounts are great ways to maximize your earning potential. Expore our options below to get started saving to meet your goals today!

 

Certificates of Deposit (CD)

We offer savings in the form of Certificates of Deposit (CDs). These instruments are flexible when interest is paid along with maturities. As a CD customer, you can receive your interest by check or credit to an account at Grundy National Bank or you may want to compound the interest back to your certificate. Feel free to contact or visit us if you have questions about Certificates of Deposit.

  • Minimum balance to open a CD is $500
  • There are many terms that you can deposit your money starting with a 7-31 day term up to 60 months
  • Interest can be paid to you monthly, quarterly, semi-annually, annually or at maturity
  • Deposits to the CD is not accepted until maturity
  • Withdrawals of the principal of your CD is not allowed before maturity
  • You may withdraw interest on crediting dates
  • Early withdrawal penalties may be imposed for withdrawals before maturity
  • Interest can be compounded, deposited into another account you have at Grundy National or mailed to you by check

Individual Retirement Accounts (IRA)

Grundy National Bank provides you a means of savings for your retirement. We offer fixed and variable rates on these accounts, please check with us on current rates. Grundy National follows regulations pertaining to IRA accounts. Plan for your future now with an IRA account.

  • Traditional fixed or variable IRA's and SEP's are available
  • Transfers and rollovers accepted
  • Your account will have a one year or two year maturity
  • $50 minimum opening deposit
  • Periodic statements
  • Interest on your IRA will be compounded quarterly
  • Penalties for early withdrawal can be imposed if withdrawal is made before the maturity date
  • Optional distributions when age 59 1/2 reached
  • Mandatory distributions when age 70 1/2 reached

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