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Time Certificates of Deposit

  • $500.00 Minimum Balance to Open
  • A fixed rate account where the interest rate and annual percentage yield will not change for the term of the account, unless otherwise stated.
  • A term deposit account where you make a commitment to leave funds on deposit for a set period of time, anywhere from 3 months to 48 months View current rates
  • Interest will normally be compound to the certificate at maturity for terms under 7 months and quarterly for terms of 9 months and up, or you may have the interest deposited into your account if we agree at opening
  • Interest is calculated using the daily balance method which applies a daily periodic rate to the balance in the account each day.
  • Certificates will automatically renew, you will have 10 calendar days after the maturity to withdraw funds without penalty
  • An early withdraw penalty will be imposed if funds are withdrawn before maturity
    • If the original term is one year or less the fee we may impose is equal to 1 month interest
      If the original term is over one year the fee we may impose is equal to 3 months interest

Individual Retirement Accounts

  • Types of IRA’s offered – Traditional, ROTH, and SEP
  • Investment products are time certificates of deposit as described above View current rates
  • Several types of contributions can establish an IRA, such as regular, rollover, or transfer
  • Contribution amounts may vary depending upon certain eligibility requirements, please consult your tax professional for assistance
  • Individuals cannot withdraw funds before age 59 ½ without a 10 percent early withdrawal penalty
  • Individuals over 59 ½ years of age and those required to take a minimum distribution (over 70 ½ years of age) may withdraw funds at any time without penalty
  • The contribution deadline is April 15 following the tax year for which you make your contribution

CDARS - Investments

  • The easiest, most convenient way to secure full FDIC insurance on deposits amounts over $250,000.00
  • One relationship, one statement, one stop investments
  • Terms are set at 4, 13 26, or 52 weeks and 2, 3 or 5 years
  • Rates vary by week and are available by calling Tim or Debbie at the Bank of Bennington

For more information about any of our investment products, please contact a Bank of Bennington customer service representative at (402)238-2245 or stop by one of our locations and we would be happy to assist you.