Savings, CDs & IRAs

Savings, CDs & IRAs

Saving money is the first step towards building a sound financial future. Some people save for a special occasion, some for an emergency and many for retirement; whatever your reason, The Bank of Fincastle is here to help.

Statement Savings Account

The Bank of Fincastle Statement Savings Account is a great way to start saving and you can rest assured knowing that your money is working for you. We offer a competitive interest rate and require no minimum balance or service charge.

With our Statement Savings Account, you receive a quarterly statement that shows your account history.

Current Statement Savings Account rates »

To find out more about our Statement Savings Account terms and rates give us a call at 473-2761 or visit any branch.

 

Holiday Savings Account

The Bank of Fincastle Holiday Savings Account is a good way to ensure that money is available when December rolls around. You decide how much you want to save and The Bank of Fincastle will give you a deposit card that you can use to make deposits. This account is an interest bearing account. The interest rate and annual percentage yield are included in the rate chart.

Transaction limitations for the Holiday Savings Account: No withdrawals may be made from this account, with exception of withdrawal to close the account. In the month of November a check for the balance of this account will be issued and mailed to the account holder or credited to their desired Bank of Fincastle account.

Current Holiday Savings Account rates »

To find out more about our Holiday Savings Account terms and rates give us a call at 473-2761 or visit any branch.

 

Premier Money Market Account with Check Access

The Bank of Fincastle's Premier Money Market Account provides liquid savings, giving you immediate access without penalty when the minimum balance is maintained. Plus, this account features tiered interest, with a higher interest rate given for a greater balance. You must deposit $2500.00 to open this account.

You may make six (6) transfers from your account each four (4) week or similar period, if by preauthorized or automatic transfers, or telephone (including data transmission) agreement, order or instruction or by check, draft, debit card or similar order (including POS transaction, made by the depositor and payable to third parties.  Transfer and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.

Current Money Market account rates »

For details about specific services, fees, and minimum balance requirements, you can contact us at 473-2761 or visit any Bank of Fincastle branch office.

 

Certificates of Deposit

Certificates of Deposit are an excellent option for those seeking a safe, stable investment. You can rest assured knowing that your CD's are FDIC insured. And, since you know when your money will mature, you can budget your investment more easily. And, with terms ranging from 7 days to 5 years, the timing is always right for a CD from The Bank of Fincastle.

Current CD rates »

To find out more about our Certificate of Deposit terms and rates give us a call at 473-2761 or visit any branch.

 

Individual Retirement Accounts

Do you think about retirement? Do you wonder if you’ll have enough money to retire when you want to? Most retirement planning experts agree that the average American will need about 60% to 75% of their pre-retirement income to retire comfortably.

The Bank of Fincastle has experienced professionals that can explain the details of the various accounts and the differences between a Traditional IRA and Roth IRA. We will help you estimate how much you will need to retire when you want and help you complete the necessary forms to establish your individual retirement plan.

  • Traditional IRA: Contributions are deductible on your federal income taxes and earnings are deferred until you withdraw it at retirement.
  • Roth IRA: This IRA became available to individuals in January 1998. Contributions are made with after-tax dollars and your money accumulates tax-free and not tax deferred.

Current IRA rates »

To find out more about our IRA account terms and rates give us a call at 473-2761 or visit any branch.

 

Savings Bonds

Paper savings bonds will no longer be sold at financial institutions after December 31, 2011.

Electronic savings bonds can be purchased online through TreasuryDirect.

U.S. Savings Bonds are a great way to invest and save! They are issued at half their face value. When you buy a $100 bond, for instance, you pay $50 for it. They have a maturity date, accrue interest from the date of purchase and you can redeem them at any time after one year.

Existing paper bonds are still valid and will earn interest for 30 years from the issue date or until redeemed. You can continue to cash any existing paper savings bonds at any Bank of Fincastle location.

To find out more about savings bonds visit http://www.treasurydirect.gov/