CDS, IRAS & CDARS ®

Certificate of Deposit

Designed for customers who want to maximize return by locking in a yield for a chosen term. HomeTown Bank CDs are available at competitive rates in a variety of terms and maturities.

 FEATURES

  • Minimum opening deposit of $500
  • Interest is compounded daily
  • Interest can be paid monthly, quarterly, semi-annually, annually or at maturity
  • Interest can be added to your CD or automatically deposited into your checking or savings account, though withdrawal of interest will reduce earnings
  • Seven-day grace period after maturity for withdrawals or modifications
  • Automatically renews
  • No Penalty CDs and HomeTown Club CDs also available
  • Penalty for early withdrawal may apply

Individual Retirement Accounts

IRAs are a smart, tax-advantaged savings option to help build for your retirement.

 FEATURES

  • Minimum opening deposit of $100
  • Traditional & Roth IRAs available
  • Interest is compounded daily
  • Seven-day grace period after maturity
  • Automatically renews
  • Subject to IRA rules and regulations
  • Penalty for early withdrawal may apply

CDARS® (Certificate of Deposit Account Registry Service®)

CDARS is an easy, convenient way to enjoy expanded FDIC insurance for customers who have large dollar deposits at HomeTown Bank. 

 FEATURES 

  • FDIC coverage on CDs up to $50 Million 
  • Work directly with HomeTown Bank 
  • Monthly statement detailing CD balances 
  • Receive one 1099 statement on entire placement 
  • Wide range of maturity options available 
  • Penalty for early withdrawal will apply 

ICSSM (Insured Cash SweepSM)

With ICS, you can access multi-million dollar FDIC protection on your savings deposits.

 FEATURES

  • Withdraw ICS funds up to six times per month
  • Put excess balances to work in an interest-bearing savings account
  • Work directly with HomeTown Bank