For customers looking to invest money for a specified time and without needing immediate access to those funds, CDs and IRAs can be an attractive product. Visit one of our locations and have an SCB banker get your account opened today.
Certificates of Deposit
- $1,000 minimum investment – 12 to 60 month terms
- $5,000 minimum investment – 3 to 6 month terms
- Interest earned is either conveniently added back to the certificate or credited directly to your SCB checking, savings, or MMIA account
- Interest can be paid monthly, quarterly, semi-annually, or annually
- Certificates may be used as collateral for loans without losing interest on the CD or paying a penalty
Coverdell Education Savings Account/IRA
The Coverdell Education Savings Account exists to help with the education expenses of children and can be established at birth for any education they receive until the age of 30. This is a non-deductible account with no tax due on interest and no penalty for qualified distributions (up to $2,000 per year).
Individual Retirement Accounts
SCB offers both traditional and Roth IRA Accounts
- 03 - 60 month terms
- Fixed and Variable Rates available, depending on term
Looking for something other than a traditional CD or IRA?
Click here to learn more about investment advice available to our clients via SCB Investment & Wealth Management. Qualified, experienced advisors, consultations, and advice offered through TVAMP and LPL Financial.