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If FDIC insurance is important to you, talk to us - we can provide
up to $30 million in FDIC insurance! Click on the banner below to
learn more.
- Minimum to open and obtain APY $1,000
- Automatic credit of interest is required on CD’s of $10,000
or less
- Deposits to the CD cannot be made after it is opened
- Withdrawals from the principal cannot be made until the maturity
date
- CDs are available for the following terms:
- 30 days
- 90 days
- 182 days
- 1 year
- 18 months
- 2 year
- 3 year
- 4 year
- 5 year
- Rates
Looking for a way to keep large deposits safe? Ask us about
CDARS®. It’s a great solution for: businesses * nonprofit
organizations * public funds managers * trustees * financial advisors
* individuals
With CDARS, you can receive up to $30 million in FDIC protection
through PEOPLES STATE BANK. There are few guarantees in life –
FDIC insurance is one of them. CDARS can be a valuable cash management
or longer-term investment tool for you or your business.1
Why CDARS?
It's one-stop shopping. With help from CDARS, you can access:
- Safety - Your money can receive up to $30
million in FDIC insurance coverage.
- Convenience - You work directly with us. You
earn one interest rate and receive one regular statement. Individual
investors receive one year-end tax form.
- Community Investment - The full value of your
money can support lending opportunities in your local community.
- CD-Level Rates - Your money earns CD-level
returns which may compare favorably with other investment alternatives,
including Treasuries, corporate sweep accounts, and money market
funds.
How does CDARS work?
We are members of a special network. When you place a large amount
with us, we place your funds into certificates of deposit issued
by other banks in the network – in increments of less than
$100,000 – so that both your principal and interest are eligible
for complete FDIC protection. With help from a sophisticated matching
system, we exchange deposits with other banks that are members of
the network.
These exchanges, which occur on a dollar-for-dollar basis, can
bring the full amount of your original deposit back to our bank.
As a result, we can make the full amount of your deposit available
for community lending purposes.
What else should I know?
Now, you no longer have to spend time managing multiple
bank relationships, administering various interest rates, organizing
interest disbursements from various sources, or manually consolidating
monthly statements. This reduces your administrative burden, especially
during tax and financial reporting seasons.
And with CDARS, you can eliminate the need to monitor changing
collateral values – another time saving convenience.
Of course, your confidential account information remains protected.
Ask us about how CDARS can work for you the next time you visit
one of our branches, or CALL 318-256-2071 for more information.
1 Funds may be submitted for placement only after
a depositor enters into the CDARS Deposit Placement Agreement with
Peoples State Bank. The agreement contains important information
and conditions regarding the placement of funds by us. Please read
the agreement carefully before signing it.
2 With customer consent, we may choose to receive fee income instead
of matching deposits from other banks.
CDARS is a registered service mark of Promontory
Interfinancial Network, LLC.
- 12, 24, 36, or 60 month Fixed Rate IRA available
- Minimum to open and obtain APY is $500
- Interest compounded and credited quarterly
- Interest Rate and APY may change (Rates)
- Annual Statement
- Possible tax advantage* during income-producing years on traditional
IRA
- Possible tax-free* retirement income available on Roth IRA
- Individual, spousal and rollover IRAs
- 12, 24, 36, or 60 month Fixed Rate IRA available
- Minimum to open and obtain APY is $100
- Interest compounded and credited quarterly
- Interest Rate and APY may change (Rates)
- Annual Statement
Please contact
a Customer Service Representative for complete CD & IRA disclosure
information.
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