CDs & IRAs

There are many different types of savings accounts.  How do you decide which is best for you?

CDs (Certificates of Deposit) and IRAs (Individual Retirement Accounts) are what we call "Longer Term" accounts.  These accounts offer higher interest rates over an extended period of time, but you are limited as to how easily you can access your money.

CERTIFICATES OF DEPOSIT pay a better interest rate than a passbook savings account, but requires that you keep your money on deposit for a few months to several years.

A First Bank of Manhattan IRA is a great way to save for your retirement.  An IRA lets you set aside money each year, with earnings tax-deferred, until withdrawals begin at age 59 1/2 or later.

For either account, your funds are FDIC insured up to $250,000.00.  Use the chart below to compare these two accounts.

To learn more, or to open a CD or IRA account,

for our current CD Rates.
To explore saving options that give you easier access to your money,




Minimum balance to open


CD $1000/$5000
IRA $500

Minimum balance to avoid service charges



Service charge if minimum balance is not maintained



Interest begins to accrue on the business day of deposit

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