Certificates of Deposit
Certificates of Deposit are a great way to earn a higher rate of interest on your money. Your rate of interest will depend on the amount of your investment and the length of time you wish to deposit your money. FDIC Insurance guarantees Certificate of Deposit Accounts, along with other deposit accounts at Longview Bank.
Individual Retirement Accounts
Longview Bank offers several types of IRAs to fit your needs.
Traditional IRA
The Traditional IRA is an account, which allows you to defer taxes on your earnings until the time of withdrawal. Also, certain contributions are tax deductible* in the year they are made.
Roth IRA
The Roth IRA is a non-deductible account that features tax-free withdrawals for certain distribution reasons. Since Roth IRA contributions are nondeductible and taxed in the year they are earned*, individuals who expect to be in a higher tax bracket when they retire may benefit more from a Roth IRA account than from a Traditional IRA.
Coverdell Education Savings Account (CESA)
The CESA is a non-deductible account that features tax free withdrawals for a child’s higher education expenses. Qualified higher education distributions are tax free and may be made without penalty.
*Consult your tax advisor for more information
Date effective: September 28, 2024
| Account Type/Term | Minimum Balance to Obtain APY | Interest Rate | APY* |
|---|---|---|---|
| 3-month CD | $500 | 2.72% | 2.75% |
| 6-month CD | $500 | 2.97% | 3.00% |
| 12-month CD | $500 | 2.97% | 3.00% |
| 18-month CD | $500 | 2.72% | 2.75% |
| 24-month CD | $500 | 2.72% | 2.75% |
| 30-month CD | $500 | 2.72% | 2.75% |
| 36-month CD | $500 | 2.48% | 2.50% |
| 48-month CD | $500 | 2.48% | 2.50% |
| 60-month CD | $500 | 2.48% | 2.50% |
| IRA-Variable or IRA 12-month Term Quarterly | 2.97% | 3.00% |
*APY – Annual Percentage Yield
Interest rates on CDs are variable, and may change immediately after opening the account. Rates are effective as of the date shown above.
The bank may impose a penalty for early withdrawal of a CD.
Please contact a member of our staff for information on CDs and other accounts requiring special terms.
Longview Bank reserves the right to limit deposits.
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Equal Housing Lender