IRAs & CDs

We offer savings solutions for everyone. Choose the solution that works for you, or let our knowledgeable Customer Service staff help you make a decision for a worry-free future. At West Milton State Bank, we’re “helping our family, friends and neighbors succeed”.

INDIVIDUAL RETIREMENT ACCOUNTS (IRAs)

Looking for a risk-free way to save for retirement? Then look no further.

IRAs provide you with tax advantages for long-term retirement savings. The sooner you start contributing to an IRA and the longer you let your money grow, the more you benefit.

  • Traditional, Roth and Coverdell available
  • Variety of terms available ranging from 12 months to 60 months with automatic renewal
  • Tiered interest rates, compounded semi-annually and at maturity
  • Make deposits any time or set up an automatic transfer, not to exceed government limits

CERTIFICATES OF DEPOSIT (CDs)

This is the solution for you if you are looking for a fixed interest rate with various terms to meet your
savings goals.  CDs are the easiest way to save if you don’t need immediate access to your money. They usually pay you a higher interest rate than a traditional savings or money market account and, generally, the longer the term that you invest for, the higher the interest rate.

  • Flexible interest payment options
  • Variety of terms available ranging from 91 days to 60 months with automatic renewal
  • Minimum balance of $500 required for all terms

Annual Percentage Yields (APY) are effective as of January 10, 2014.

CERTIFICATE OF DEPOSIT
INDIVIDUAL RETIREMENT ACCOUNTS (I.R.A.)
COVERDELL SAVINGS ACCOUNT (CESA)

BALANCE RANGE: $500 to $99,999.99

(Minimum opening deposit for a 1-Year Individual Retirement Account is $100)
(Minimum opening deposit for a Coverdell Savings Account is $25)

TERM INTEREST RATE ANNUAL PERCENTAGE YIELD (APY)
91 days .10% .10%
182 days .25% .25%
1 year .35% .35%
2 years .50% .50%
3 years .90% .90%
4 years 1.30% 1.30%
5 years 1.75% 1.76%

A penalty may be imposed for early withdrawals on Certificate of Deposit accounts and Individual Retirement accounts. Rates are subject to change without notice.Spring CD Special

Contact Us or stop by one of our convenient office locations for further information about applicable fees and terms.

Full disclosure information can be obtained from a Customer Service Specialist.