CD & IRA

Certificates of Deposit and IRAs

Safe Savings that Grow with You

When you want a higher-yield savings with the security and peace-of-mind of a FDIC-insured investment, consider a certificate of deposit or individual retirement account from Sturgis Bank. You have the flexibility to structure either of these savings tools to fit your financial goals. Contact your hometown banker for current interest rates or for more information about our current specials.

4.05% APY - 7 months* 3.80% APY - 13 months** 3.50% APY - 23 months***

*Annual Percentage Yield (APY) of 4.05% is effective as of 09/202024 on the 7-month special certificate of deposit. Minimum opening balance of $5,000.00. Penalty may be imposed for early withdrawal. Rates are effective for a limited time. Offer subject to change without notice. Fees may reduce earnings. Certain restrictions may apply. Certificates will automatically renew at the renewal rate for certificates having a term of 12 months.

**Annual Percentage Yield (APY) of 3.80% is effective as of 09/20/2024 on the 13-month special certificate of deposit. Minimum opening balance of $5,000.00. Penalty may be imposed for early withdrawal. Rates are effective for a limited time. Offer subject to change without notice. Fees may reduce earnings. Certain restrictions may apply. Certificates will automatically renew at the renewal rate for certificates having a term of 12 months.

***Annual Percentage Yield (APY) of 3.50% is effective as of 08/06/2024 on the 23-month special certificate of deposit. Minimum opening balance of $5,000.00. Penalty may be imposed for early withdrawal. Rates are effective for a limited time. Offer subject to change without notice. Fees may reduce earnings. Certain restrictions may apply. Certificates will automatically renew at the renewal rate for certificates having a term of 12 months.

Certificate of Deposits

A certificate of deposit (CD) account is an easy, safe, stable environment to save money with higher interest rates than traditional savings accounts. You choose the duration of the account term, and with a fixed rate of return, you can estimate your earnings to help plan for the future.

Features

Minimum deposit of $500 for 1-year, 2-year, 3-year, 4-year, or 5-year CDs
Minimum deposit of $2500 for 3-month and 6-month CDs
Competitive, fixed interest rates
Compound interest paid quarterly to your CD account or easily transferred to another bank account such as a checking or savings on a monthly, quarterly or semi-annual basis
Automatic renewal at maturity
Availability as collateral for loans
Special short-term and long-term CDs may be available periodically
An early withdrawal penalty may apply

Individual Retirement Accounts

An Individual Retirement Account (IRA) from Sturgis Bank is a tax-advantaged account that holds certificates of deposit investments to help you save for retirement. Our Traditional or Roth IRA programs both offer tax benefits; check with your tax advisor to determine which solution fits best with your long-term savings goals.

Features

Minimum deposit of $500 for 1-year, 2-year, 3-year, 4-year, or 5-year Savings IRA CD account
Minimum deposit of $2500 for 3-month and 6-month accounts
Competitive, fixed interest rate
Interest is compounded and paid to your IRA CD account
Interest earned may be tax deferred (consult your tax advisor)
Contributions may be tax deductible, contact your tax advisor for further information
Automatic renewal at maturity
Special short term and long term may be available periodically
An early withdrawal penalty may apply, contact us for further details

For more detailed disclosures please contact us at 269-651-9345. Disclosures will be mailed or delivered within 10 business days upon request.