Certificates of Deposit (CDs)

• Fixed rates, higher than regular savings account
• Receive higher rates by selecting a longer term
• Interest may be added back to the Certificate or deposited into another account at Farmers Bank
• Provides more guarantee than other risky investments
• Set aside for future savings goals
• A wide range of terms available
• No setup or maintenance fees
• Early withdrawals subject to penalty
• $2,500 minimum deposit to open

Individual Retirement Accounts (IRAs)

• Competitive interest above standard savings rates
• Traditional and Roth IRA Options
• No setup fees
• No monthly or annual maintenance fees
• Annual contribution limits apply (see current contribution limits; $6,000 as of 2020)¹
• Additional $1,000 “catch-up” contribution allowed for ages 50+
• Funds can be used to purchase CDs within IRA
• $2,500 minimum deposit to open

¹Consult a tax advisor.

*Call for current rates.