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Certificates of Deposti



CERTIFICATE OF DEPOSIT
:

A Certificate of Deposit or CD at First State Bank is designed to give you a higher rate of return in exchange for a time commitment (term) on your deposit.  Please contact customer service at 256-845-6101 for terms and current interest rates.

  • You must deposit $500.00 to open this account.
  • We may impose a penalty if you withdraw any of the principal before the maturity date.
  • The account will renew automatically at maturity.
  • You have 10 days after the maturity date to withdraw funds without a penalty.
  • Interest begins to accrue on the business day you deposit non cash items.
  • We use the daily balance method to calculate the interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

 

INDIVIDUAL RETIREMENT ACCOUNTS

First State Bank offers a selection of retirement accounts.  Customers may choose from a Traditional IRA or Roth IRA. A Traditional IRA is an individual retirement account that is a special tax deferred savings plan to encourage participants to accumulate money for retirement.  A Roth IRA is an individual retirement account to which participants are able to make annual non-deductible contributions. Please consult your tax advisor. These retirement accounts are on a time commitment (term).  Please contact customer service at 256-845-6101 for terms and current interest rates.

 

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