Savings, CDs & IRAs
Regular Savings Account
- Interest earning
- Interest rate and annual percentage yield may change at any time
- Interest compounded every quarter
- Interest will be credited to your account every quarter
- Interest begins to accrue on the business day you deposit non-cash items (example, checks)
- Minimum $50 deposit required to open account
- Minimum balance to avoid fees
- Account must be active to avoid fees.
- Limit of 6 withdrawals per statement cycle
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Money Market Savings Account
- Interest earning account
- Interest rate and annual percentage yield may change
- Interest compounded every quarter
- Interest credited to your account every quarter
- Minimum $2,500 deposit required to open an account
- Minimum balance to avoid fees
- Limit of 6 withdrawals per statement cycle
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Christmas Club Account
- Interest earning account
- Interest rate and annual percentage yield may change
- Interest will be compounded annually
- Interest will be credited annually
- Interest begins to accrue on the business day you deposit non-cash items (example, checks)
- No withdrawals are allowed from this account.
- Checks will be issued once a year.
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Certificates of Deposit
Whatever your savings goal or purpose, CDs are an ideal way to save for the future. Certificates of Deposit (CD’s) are time deposit accounts with a selection of terms ranging from 3 to 36 months. The longer the term, the higher the interest rate.
Features
- Choose from 3 months to 36 months, to fit your long-range savings goals
- FDIC insured
- CD’s can be used as collateral for a loan
Note: Substantial penalty for early withdrawal.
CONTACT Global Innovations Bank FOR CURRENT INTEREST RATES
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Individual Retirement Accounts
- An individual tax sheltered retirement plan for those with earned income.
- Traditional, Roth, SEP IRA’s available
- FDIC insured
Note: Potential for substantial bank and/or IRS penalty for early withdrawal. Consult your tax advisor for deductibility and what kind is right for you.
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