In observance of Juneteenth, National Grand Bank Offices will be closed Wednesday, June 19, 2024 .

Certificate of Deposit & Retirement Services 

 National Grand Bank is interested in helping our customers, friends and neighbors meet their financial goals. We offer an extensive array of products whether you are saving for a rainy day, retirement, or a child’s education. 

OUR PRODUCTS INCLUDE:

 To learn more, click on the product/plan above.


Certificate of Deposit (CD)

Certificates of Deposit allow our depositors a great way to plan ahead and grow their savings without risk.

With a minimum opening deposit of $1000, a CD provides a competitive rate of return on terms that range from 3 months to 5 years. Additional deposits to the account are accepted only at maturity during the applicable 10-day grace period.

A CD offers the dependability of a fixed interest rate, which remains in effect until the CD matures. Interest is compounded and credited to the account monthly.

CDs are insured up to the appropriate limits by the Federal Deposit Insurance Corporation (FDIC).


Traditional IRA

A Traditional Individual Retirement Account (IRA) allows individuals to contribute pre-tax dollars to a retirement account where investments grow tax-deferred until withdrawal during retirement. Upon retirement, withdrawals are taxed at the IRA owner’s current income tax rate. IRA owners can contribute up to a maximum of $7,000 ($14,000 for married couples) per year. For IRA owners aged 50 or older, catch-up contributions of an additional $1,000 are allowed.

Before investing, please consult your tax advisor to ensure that a Traditional IRA is an appropriate choice for your personal financial goals.

National Grand Bank offers several IRA options:

  • IRA Savings/IRA Money Market:
    • Minimum deposit of $10
  • IRA Certificate of Deposit (CD):
    • Minimum deposit of $500
    • Competitive fixed interest rate
    • Terms of 1 to 5 years

IRA products are insured up to the appropriate limits by the Federal Deposit Insurance Corporation (FDIC).


ROTH IRA

A Roth IRA is an Individual Retirement Account to which individuals contribute after-tax dollars. While there are no current-year tax benefits, contributions and earnings can grow tax-free, and can be withdrawn tax- and penalty-free after age 59½ and once the account has been open for five years. ROTH IRA owners can contribute up to a maximum of $7,000 ($14,000 for married couples) per year. For ROTH IRA owners aged 50 or older, catch-up contributions of an additional $1,000 are allowed.

Before investing, please consult your tax advisor to ensure that a ROTH IRA is an appropriate choice for your personal financial goals.

National Grand Bank offers several IRA options:

  • IRA Savings/IRA Money Market:
    • Minimum deposit of $10
  • IRA Certificate of Deposit (CD):
    • Minimum deposit of $500
    • Competitive fixed interest rate
    • Terms of 1 to 5 years

IRA products are insured up to the appropriate limits by the Federal Deposit Insurance Corporation (FDIC).


SEP IRA & SIMPLE IRA

A Simplified Employee Pension IRA (SEP IRA) is a tax-deferred retirement account set up by sole proprietors or small businesses owners for themselves and their employees. The employer can contribute a percentage of each employee’s pay to their SEP IRA, up to a certain dollar amount, each year. SEP IRAs only permit employer contributions.

A Savings Incentive Match Plan for Employees IRA (SIMPLE IRA) is a tax-deferred retirement plan designed for small businesses with less than 100 employees and does not provide benefits under another qualified retirement plan. Contributions can be made by both the employer and the employee.

Before investing, please consult your tax advisor to ensure that a SEP IRA or SIMPLE IRA is an appropriate choice for your personal financial goals.

National Grand Bank offers several IRA options:

  • IRA Savings/IRA Money Market:
    • Minimum deposit of $10
  • IRA Certificate of Deposit (CD):
    • Minimum deposit of $500
    • Competitive fixed interest rate
    • Terms of 1 to 5 years

IRA products are insured up to the appropriate limits by the Federal Deposit Insurance Corporation (FDIC).


Coverdell Education Savings Account (Coverdell ESA) 

A Coverdell Education Savings Account (Coverdell ESA) is a custodial plan established to allow parents or guardians to save for a children’s education. The funds are used to pay for qualified education expenses. The term “qualified education expenses” refers to tuition, fees, books, supplies, and equipment required for the enrollment or attendance at an eligible higher education institution.

Before investing, please consult your tax advisor to ensure that a Coverdell ESA is an appropriate choice for your personal financial goals.

National Grand Bank offers several Coverdell ESA options:

  • Savings/Money Market:
    • Minimum deposit of $10
  • Certificate of Deposit (CD):
    • Minimum deposit of $500
    • Competitive fixed interest rate
    • Terms of 1 to 5 years

Coverdell ESA products are insured up to the appropriate limits by the Federal Deposit Insurance Corporation (FDIC).


Health Savings Account (HSA)  

A Health Savings Account (HSA) is a tax-exempt medical savings account that is established exclusively for the purpose of paying qualified medical expenses for an individual, spouse or dependents. The HSA can be used to pay for a wide range of eligible medical and health related services that are not covered by health insurance. An HSA is designed to be used in conjunction with a High Deductible Health Insurance Plan.

The funds contributed to an HSA (up to specified limits for individual and family plans) are not subject to federal tax at the time of deposit. Any funds in an HSA not used during a calendar year can be rolled over to the following year, allowing the balance to grow over time.

Before investing, please consult your tax advisor to ensure that an HSA is an appropriate choice for your personal financial goals.

HSA products are insured up to the appropriate limits by the Federal Deposit Insurance Corporation (FDIC).

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