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CDs and IRAs

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Certificates of Deposit and Fixed Rate IRAs

Certificates of deposit are designed for depositors who desire a fixed-rate investment for a specific period of time. These deposits generally pay a greater rate of interest than funds that can be withdrawn within a shorter period of time. (Daily, or monthly, for example.) Ramsey National Bank offers the following certificate of deposit products:
 

Type and Term Minimum Balance Interest Rate Annual Percentage Yield (APY) Payment Frequency Early Withdrawal Penalty
182 Day $5,000 .30% .30% At Maturity 90 days interest
1 Year $2,000 .40% .40% At Maturity 182 days interest
2 Year $2,000 .55% .55% Annually & at Maturity 365 days interest
3 Year $2,000 .80%  .80% Annually & at Maturity 365 days interest
4 Year $2,000 1.05% 1.05% Annually & at Maturity 365 days interest
5 Year $2,000 1.70% 1.70% Annually & at Maturity 365 days interest
           


Rates current as of February 15, 2018.

Early withdrawal penalty may be imposed for withdrawals before maturity.

 

Heritage Club CDs and Fixed Rate IRAs

Heritage Club Members are entitled to the following certificates of deposit:
 

Type and Term Minimum Balance Interest Rate Annual Percentage Yield (APY) Payment Frequency Early Withdrawal Penalty
182 Day $5,000 .40% .40% At Maturity 90 days interest
1 Year $2,000 .50% .50% At Maturity 182 days interest
2 Year $2,000 .65% .65% Annually & at Maturity 365 days interest
3 Year $2,000 .90% .90% Annually & at Maturity 365 days interest
4 Year $2,000 1.15% 1.15% Annually & at Maturity 365 days interest
5 Year $2,000 1.80% 1.80% Annually & at Maturity 365 days interest
           


Rates current as of February 15, 2018.

Early withdrawal penalty may be imposed for withdrawals before maturity.