CERTIFICATES OF DEPOSIT
Certificates of Deposits (CDs) offer a higher, fixed interest rate than most savings accounts. They’re a good option if you don’t need immediate access to your funds and want a guaranteed return. You choose the term, and your money is FDIC insured up to $250,000.
You want to earn a high, fixed interest rate and don’t need immediate access to your funds.
- Better returns than most savings accounts
- Competitive fixed rates
- Various terms to choose from
- Interest compounded daily
- Interest payments made according to request
- Penalty for early withdrawal
- $500 minimum deposit to open
- FDIC insured
Exclusive Relationship Rates
If you have a checking, savings, or loan with Richwood, you’ll receive our special relationship rate on CDs.
*Offer good for the initial term only. CD is automatically renewed for the same term. To qualify for relationship rates, customer must have an active checking, savings, or loan with Richwood Bank. The rate is determined based on the published rate for the CD, excluding CD specials, that is closest to but not exceeding the term of the CD. Annual Percentage Yield (APY) assumes principal and interest remain on deposit for the term of the certificate. Interest is compounded daily. Penalty may be imposed for early withdrawal. Fees could reduce earning on the account. APY is accurate as of 8/9/19. Product offering may be withdrawn any time. **Minimum balance to open an account and obtain the Annual Percentage Yield (APY) shown is $500. ***Minimum balance to open an account and obtain the Annual Percentage Yield (APY) shown is $100,000.
INDIVIDUAL RETIREMENT ACCOUNTS
Now is the time to set up an individual retirement plan so you can enjoy a secure financial future. Your deposits can be tax-free or tax-deferred, and there are flexible terms and rates available. Let us create your personalized savings plan today.
You want to start saving for retirement.
- Set aside funds for retirement
- Interest bearing accounts
- Various rates and terms to choose from
- Some age and deposit limits apply
- Deposits can be tax-free or tax-deferred
- Flexible packages to meet most needs
- FDIC insured
HEALTH SAVINGS ACCOUNTS
Save for future family medical expenses not covered by your high deductible health insurance with a tax-exempt health savings account. Your interest is tax free, and you can easily access your balance to pay for approved medical expenses.
You have a high deductible health insurance plan and want to save for future medical expenses.
- Save for future medical expenses
- Earn competitive interest rate
- Contributions are tax deductible
- Earnings are tax exempt
- Use for approved medical expenses
- Access funds online, via checks, or check card
- No monthly service charge or minimum balance
- Transferrable to next job
- No “use it or lose it” rule
- Free e-Statements
- High deductible health plan (HDHP) required*
- FDIC insured
*To qualify for this account, you must have a high deductible health plan, cannot be enrolled in Medicare, and can’t be claimed as a dependent on a tax return.