Now offering SPECIAL 182 day CD Rates! See rates below.

Certificates of Deposit & IRAs Accent Photo

Certificates of Deposit

A Certificate of Deposit (CD) is a good way to set money aside for specific goals or long term savings, because you will receive a higher interest rate and there is no risk of losing your investment. You decide the term and the amount you want to invest. 

  • Interest compounded, deposited into an account, transferred or paid by check
  • Terms vary up to 60 months
  • Minimum balance requirements and substantial penalties for early withdrawal vary based on term or type of certificate
  • Interest rates subject to change at maturity

Certificates of Deposit Rates

Rates Effective: February 26, 2024

Term Minimum Deposit APR* APY** $50,000 APR* & Over APY**
7-31 days $1,000.00 0.15% 0.15% 0.20% 0.20%
91 days $1,000.00 0.15% 0.15% 0.20% 0.20%
1 year $500.00 4.89% 5.00% 4.94% 5.05%
1 1/2 year $500.00 0.30% 0.30% 0.35% 0.35%
2 years $500.00 0.50% 0.50% 0.55% 0.55%
2 1/2 years $500.00 0.50% 0.50% 0.55% 0.55%
3 years $500.00 0.50% 0.50% 0.55% 0.55%
4 years $500.00 0.55% 0.55%
5 years $500.00 0.70% 0.70%
4 years $5,000.00 0.60% 0.60% 0.65% 0.65%
5 years $5,000.00 0.75% 0.75% .80% .80%

Please see a Bank Representative for full details. Rates and terms subject to change at bank discretion. All interest rates are compounded daily. Penalty may be imposed for early withdrawal on certificate of deposit.

*** Rates and terms are subject to change at the bank’s discretion. All interest rates are compounded daily and credited semi-annually. A minimum of $500 is required to open account and obtain disclosed APY. Penalty may be imposed for early withdrawal. Please see bank representative for full details. 

APY**: Annual Percentage Yield
APR*: Annual Percentage Rate

Individual Retirement Accounts

It is never too early or too late to start saving for retirement! The Napoleon State Bank offers two types of Individual Retirement Accounts (IRA). These accounts provide either a tax-deferred or a tax-free way to help you save for your retirement.

Traditional IRA

This account allows you to defer taxes on the earnings on your contributions until they are withdrawn. Also, depending on eligibility, contributions are tax deductible in the tax year for which you make them.

Roth IRA

This account gives savers a different incentive – nontaxable distributions. Regular Roth IRA contributions are not tax deductible, so owners will not pay federal taxes on distributions of these contributions. Under certain conditions, the earnings on Roth IRA contributions are also nontaxable when distributed.

To learn more about these accounts, call our Account Specialist at 812-852-4002.

Information about procedures for opening a new account