Personal

CDs & IRAs

Certificates of Deposit and Retirement Services 

National Grand Bank is interested in helping our customers, our friends and our neighbors meet their financial goals. That’s why we offer such an extensive array of products with such competitive rates. Whether you’re saving for a rainy day, your retirement or a child’s education, National Grand Bank has a product that’s right for you.

Our products include:
  • Certificate of Deposit
  • Traditional IRA
  • ROTH IRA
  • SEP and Simple IRAs
  • Continuing Education Savings Account
  • Health Savings Accounts
Click on one of the product tabs above to learn more. Or just stop in and speak with one of our experienced banking professionals who will be more than happy to answer your questions and help meet your needs. 

Certificate of Deposit

At National Grand Bank, our certificates of deposit allow our depositors a great way to manage their savings and grow their money without risk.

With a minimum opening deposit of just $1,000.00 a CD provides a competitive rate of return on terms that range from 3 months to 5 years, so you can choose a term that works best for you. Additional deposits to this account are accepted only at maturity or during the applicable 5 day grace period.

A National Grand Bank Certificate of Deposit offers the dependability of a fixed interest rate, which remains in effect until your certificate matures. Interest is compounded and credited to your account monthly. Certificates are insured up to the appropriate limits through the Federal Depositors Insurance Corporation (FDIC).

Traditional IRA

It’s never too soon to start preparing for your retirement. A Traditional Individual Retirement Account is an excellent tool for your retirement savings. A Traditional IRA is designed for anyone under the age of 70 with earned income who wants to save for retirement. You can contribute up to a maximum of $5,000.00 per year ($10,000.00 for married couples). Catch up contributions for IRA owners 50 years or older is an additional $1,000.00 per year.

At National Grand Bank we offer several IRA options designed to help you plan for your future. With just a minimum deposit of $10.00, customers can establish a Traditional IRA Savings Account or a Traditional IRA Money Market Account. 

With a minimum deposit of $500.00, customers can establish a Traditional IRA Certificate of Deposit, which offers the dependability of a fixed interest rate for the term of the certificate. CDs vary in length from one year to five years. Additional deposits to your IRA certificate are accepted only at maturity or during the applicable 5 day grace period.

NGB IRA customers that have reached the age of 59 ½ have a one time opportunity to “bump-up” the interest rate of their IRA Certificate of Deposit. If the interest rate on your IRA increases during the term of the product you may exercise the “bump-up” and have your rate increased to the current deposit rate.

Your Traditional IRA, with National Grand Bank, is fully insured up to the appropriate limits through the Federal Depositors Insurance Corporation (FDIC).

Before investing, please consult your tax advisor to see if this type of investment is an appropriate choice for your portfolio.

ROTH IRAs

A Roth Individual Retirement Account is a smart way to save for retirement. A Roth IRA is for anyone who earns income and wants to save for retirement, especially those that may exceed the Traditional IRA income limits.

A Roth IRA is a tax-deferred retirement account. Contributions are not tax deductible and withdrawals can be made completely tax-free once you reach age 59 ½ and have had your Roth IRA for five years. You can contribute up to a maximum of $5,000.00 per year ($10,000.00 for married couples). Catch up contributions for Roth IRA owners 50 years or older is an additional $1,000.00 per year.

At National Grand Bank we offer several Roth IRA options designed to help you plan for your future. With just a minimum deposit of $10.00, customers can establish a Roth IRA Savings Account or a Roth IRA Money Market Account.

With a minimum deposit of $500.00, customers can establish a Roth Certificate of Deposit, which offers the dependability of a fixed interest rate for the term of the certificate. CDs vary in length from one year to five years. Additional deposits to your Roth IRA certificate are accepted only at maturity or during the applicable 5 day grace period.

NGB IRA customers that have reached the age of 59 ½ have a one time opportunity to “bump-up” the interest rate of their IRA Certificate of Deposit. If the interest rate on your IRA increases during the term of the product you may exercise the “bump-up” and have your rate increased to the current deposit rate.

Your Roth IRA, with National Grand Bank, is fully insured up to the appropriate limits through the Federal Depositors Insurance Corporation (FDIC).

Before investing, please consult your tax advisor to see if this type of investment is an appropriate choice for your portfolio.

SEP & Simple IRAs

A Simplified Employee Pension IRA (SEP-IRA) is a tax-deferred retirement plan provided by sole proprietors or small business for their employees. These accounts are the answer to the traditional 401K plan.

The employee can contribute a percentage of their compensation up to a certain dollar amount each year. The employer may also choose to contribute a percentage to the employee’s account. Contributions and earnings grow tax-deferred until retirement.

The Savings Incentive Match Plan for Employees IRA (Simple IRA) is a tax-deferred retirement plan designed for small businesses with less than 100 employees and that does not provide benefits under another qualified retirement plan. Contributions can be made by both the employer and the employee.

At National Grand Bank, with a minimum deposit of $500.00, customers can establish a SEP IRA Certificate of Deposit or a SIMPLE IRA Certificate of Deposit each one offers the dependability of a fixed interest rate for the term of the certificate. CDs vary in length from one year to five years. Additional deposits to your IRA certificate are accepted only at maturity or during the applicable 5 day grace period.

NGB IRA customers that have reached the age of 59 ½ have a one time opportunity to “bump-up” the interest rate of their IRA Certificate of Deposit. If the interest rate on your IRA increases during the term of the product you may exercise the “bump-up” and have your rate increased to the current deposit rate.

Your SEP-IRA and SIMPLE IRA are fully insured up to the appropriate limits through the Federal Depositors Insurance Corporation (FDIC).

Before investing, please consult your tax advisor to see if this type of investment is an appropriate choice for your portfolio.

Continuing Education Savings Account

A Continuing Education Savings Account (CESA) is a custodial account established as a way to allow parents or guardians to save for their children’s education. The funds are used to pay for his or her qualified education expenses.

The term “qualified education expenses” refers to tuition, fees, books, supplies and equipment required for the enrollment or attendance at an eligible higher education institution.

With a minimum deposit of $500.00, ($2,000.00 maximum annually per child) parents, grandparents, other relatives and friends are eligible to contribute to the Education Savings Certificate of Deposit, which offers the dependability of a fixed interest rate for the term of the certificate. CDs vary in length from one year to five years. Additional deposits are accepted only at maturity or during the applicable 5 day grace period.

Your Continuing Education Savings Certificate of Deposit, with National Grand Bank, is fully insured up to the appropriate limits through the Federal Depositors Insurance Corporation (FDIC).

Before investing, please consult your tax advisor to see if this type of investment is an appropriate choice for your portfolio.

Health Savings Accounts

A Health Savings Account (HSA) is a tax-exempt medical savings account that is established exclusively for the purpose of paying qualified medical expenses for you, your spouse and your dependents. An HSA is designed to be used in conjunction with a High Deductible Health Insurance Plan.

You can use your health savings account to pay for a wide range of eligible medical and health related services that are not covered by your health insurance.

The money contributed to an HSA is not subject to federal tax at the time of deposit
(Pre-Tax Dollars). Any money in your health savings account that is not used during a calendar year is rolled over to the following year, allowing your account balance to grow over time.

Your Health Savings Account, with National Grand Bank, is fully insured up to the appropriate limits through the Federal Depositors Insurance Corporation (FDIC).

Before investing, please consult your tax advisor to see if this type of investment is an appropriate choice for your portfolio.