CDs & IRAs
Whether you are saving for a college education for your kids, down payment on a new home, retirement, or just for a
rainy day, Fayette County National Bank has longer-term savings options that will be right for you - safe and secure
investments that are FDIC insured.
Certificates of Deposit
For customers who want a
higher investment rate for a fixed term, Certificates of Deposit (CDs) are one
safest investments around today. Terms range from 90 days to 4 years at a variety of competitive interest rates.
A penalty may be imposed for withdrawal before maturity.
Please contact a New Accounts representative at your branch for current interest rates.
Individual Retirement Accounts
Regular investing using a FCNB
IRA can help to ensure your retirement years are enjoyable. It is
never too early to
start planning for the future. The sooner you begin contributing, the faster your savings will grow due to possible
tax savings and our competitive interest rates. Our IRA accounts have a minimum deposit of $500.00 to open the account.
Minimum amounts for future deposits and withdrawals are also $500.00.
Contributions may be tax deductible
Required minimum distribution begins at 70½
No federal income tax on earnings until withdrawn
Withdrawals before 59½ are usually subject to a 10% penalty
Contributions are not tax deductible
No required minimum distribution at 70½
Interest is tax exempt after 5 years
Withdrawal penalty may be imposed depending on the circumstances