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CDs & IRAs

Certificates of Deposits (CDs)

Central Bank's certificates of deposit accounts are a safe and secure way to earn a higher rate of return on your investment. We offer a variety of CD products at competitive rates to meet your needs. Interest payment options vary according to terms and investment.

 

Account Plans Terms Available Minimum to Open
Short Term 31 days – 182 days $1,000.00
Long Term 12 months – 5 year $1,000.00

 

*Penalties for early withdrawal apply.

 

 

Individual Retirement Accounts (IRAs)

IRAs are a safe way to plan for your retirement. A variety of plans are available, so let our Personal Bankers help you to choose the one that's right for you!

 

Investment Terms Available Minimum to Open
31 days -5 year $1,000.00
(Save tax dollars now…earn tax-deferred, compounding interest and build your future retirement security.)

 

18 month Fixed $100.00
(Choose a fixed rate account and enjoy the flexibility of adding to your IRA any time during its term – perfect if you want to put aside a certain amount each month.)

 

IRA Rollovers and Transfers
If you're about to retire, change jobs or expect to receive a lump sum distribution from a pension, profit-sharing or similar plan, you have 60 days to redeposit (rollover) all or part of the taxable portion of the distribution into an IRA.  Central Bank can assist you with a tax-free rollover of funds from any qualified retirement plan or tax-deferred annuity into the IRA plan of your choice. We can also arrange for the transfer and consolidation of any existing IRAs you may currently have at other financial institutions.

*Penalties for early withdrawal apply.

 

Please contact one of our friendly Personal Banking Officers for more information about our CDs and IRAs. 

 

 

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