Certificates of Deposit (CDs)
- Fixed interest rate guaranteed to maturity
- Longer terms and greater balances earn higher interest rates
- Deposits FDIC insured up to the maximum established by the FDIC per depositor and ownership category
- Maturities ranging from 91 days to 60 months
- No monthly or annual service fees
- $1,000 minimum deposit to open CD
- Daily minimum balance of $1,000 required to earn interest
- Interest compounded and credited either monthly or at maturity*
- Choose to have interest credited back to your CD or into a savings or checking account
- Automatically renewable
- Penalty may apply for withdrawals before maturity
Retirement CDs
Our retirement CDs are perfect for individuals who want a secure way to save for retirement.
Benefits Include
- Longer terms and greater balances earn higher interest rates
- Fixed interest rate guaranteed to maturity
- Deposits FDIC insured up to the maximum established by the FDIC per depositor and ownership category*
- Maturities ranging from 182 days to 60 months
- No monthly or annual service fees
- Interest compounded and credited monthly
- $25 minimum deposit to open CD with term of 18 months or less
- $1,000 minimum deposit to open CD with term greater than 18 months
- To earn interest, no minimum balance requirement with terms 18 months or less; $1,000 minimum balance requirement with terms greater than 18 months
- Add to account balance at any time if CD term is 18 months or less
- Automatically renewable
Roth IRAs
Roth IRAs allow greater flexibility in retirement planning for qualifying individuals and couples. Roth IRA account holders pay no tax on withdrawals as long as the assets have been in the account for at least five years, the account holder is at least 59 1/2 years of age, and if funds are used for certain qualifying events. You can also continue to make contributions to a Roth IRA after turning 70 1/2 years of age (traditional IRAs prohibit contributions after that time) and you don’t have to take withdrawals at this age.
Direct Rollover IRAs
Direct Rollover IRAs allow customers who have already accumulated funds in a retirement plan to move them into an individual plan within 60 days of receiving the money. American Federal funds Direct Rollover IRAs with CDs and does not charge a fee to establish the account. Talk to an American Federal Banker about the best option that fits your financial needs.
Health Savings Account (HSA) CDs
Our Health Savings CDs are for individual customers who want to earn higher interest on their HSA funds and do not need immediate access to their money.
Benefits Include
- Deposits FDIC insured up to the maximum established by the FDIC per depositor and ownership category
- Terms are 24 and 60 months
- No monthly or annual service fees
- Interest compounded and credited monthly
- $1,000 minimum deposit to open CD
- Daily minimum balance of $1,000 required to earn interest
- Automatically renewable
- May make withdrawals of principal before maturity; however, penalty for early withdrawal may apply