LOCK OUT RISK. LOCK IN KEY ADVANTAGES.
CERTIFICATES OF DEPOSIT
Certificates of Deposit (CDs) are a great way to save while receiving high yielding benefits.
A CD is a special type of deposit account which typically offers a higher rate of interest than regular savings accounts. When you invest in a CD, you lock in your savings for a particular length of time. If you withdraw your funds early, you pay a penalty.
FNB offers several CDs allowing you the opportunity to choose the term that works best for you and how you want to receive interest earned. Minimum deposits range from $500 to $1,000 and terms range from 91 days to 60 months. Contact us for current CD terms and rates.
BETTER ACCESS CD
The Better Access CD is perfect for those who want to maintain a higher rate of return while maintaining the ability to access their money on a monthly basis (two withdrawals per month are included at no charge). With a minimum $2,500 opening deposit, rates are guaranteed until the first day of the calendar quarter following the account opening date. Better Access CDs pay premium tiered interest rate and are available to individuals or businesses. Contact us for current interest rate and annual percentage yield.1
The Roth IRA provides no deduction for contributions, but instead provides a benefit that isn’t available with any other form of retirement savings.3 If you meet certain requirements, all earnings are tax free when you or your beneficiary withdraws them. Other benefits include avoiding the early distribution penalty on certain withdrawals, and eliminating the need to take minimum distributions after age 70½.
You can establish a Roth IRA by making a regular contribution to a Roth IRA with after-tax dollars or by converting a traditional IRA to a Roth IRA. You may be eligible to make a regular contribution to a Roth IRA even if you participate in a retirement plan maintained by your employer. The annual contribution limit will vary by age and year. One significant advantage of a Roth IRA is that the minimum distribution rules don’t apply. If you’re able to live on other resources after retirement, you don’t have to draw on your Roth IRA at age 70½. That means your earnings continue to grow tax-free. Contact us for terms, rate, and additional information.
What will your CD be worth at maturity? Use our free CD calculator to estimate how much you can gain by putting your money in a certificate of deposit:
CD calculations are best estimates, actual interest earned on an FNB product may vary due to a number of factors not standard within the calculators.
Interactive calculators are available as self-help tools for your independent use to provide estimates for illustrative purposes.
Ready to open a CD?
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1The Better Access CD interest rate and annual percentage yield may change each quarter. You must maintain a balance of $2,500 to obtain the annual percentage yield and avoid the $10 monthly service charge. If you exceed 2 withdrawals per month, there is a $20 charge per withdrawal.
2You can open a Traditional IRA regardless if you are covered by another retirement plan or not. The accumulated interest is not taxed until the funds are withdrawn. When you reach the age of 59½, you can withdraw the funds penalty-free. Penalty-free withdrawals may be used to pay for educational expenses.
3In order to be eligible to contribute to the Roth IRA, you or your spouse must have compensation or alimony income equal to the amount contributed. In addition, your modified adjusted gross income can’t exceed certain limits.
Consult your tax advisor to discuss your individual tax situation. A penalty may be imposed for early withdrawal.