Holcomb State Bank certificates of deposit are a safe way to store money and start a savings plan that can be used for short term goals on up to long term retirement planning. The competitive interest rates offered the bank CDs ensure that the account holder’s money is working its hard.
The Holcomb State Bank certificates offer competitive CD rates with a variety of terms. Each CD term has its own benefits. Regardless of the term selected, the interest rate is guaranteed for the term of the deposit. CD maturities are available in terms from 1 month to 5 years. There is a $500.00 minimum deposit required to open a CD account and earn the disclosed Annual Percentage Yield (APY).
Interest is compounded semi-annually and the interest earned can be either compounded back into the CD or be paid to the account holder monthly, quarterly, or semi-annually by direct deposit to a Holcomb State Bank checking or savings account.
The Annual Percentage Yields promoted by the bank assume the interest will remain on deposit in the account until maturity; any withdrawal of interest will reduce earnings. A penalty may be imposed for early withdrawal of the principal from the accounts. The CDs are set up with automatic renewal with 10 day grace period after maturity date. Holcomb State Bank is an FDIC insured institution with all CD accounts covered by FDIC insurance up to $250,000 per account holder.
The CD interest rates on the Holcomb State Bank CD accounts are based on market conditions that may change frequently. The CD interest rates and annual percentage yields earned on the account are determined by the date the account is opened and the term selected.
More information on the bank CD rates and the account terms and conditions can be obtained by calling the Holcomb State Bank main branch at 815-393-4413.
Holcomb State Bank has four locations in North Central Illinois. Along with a number of certificates of deposit options, the bank offers a broad range of deposit instruments and savings tools through four bank branches ion Holcomb, Rochelle, New Milford and Creston.
The bank CD account information presented is believed to be reliable, but may have changed since this publication date, the information is not guaranteed. Contact the bank directly for the most update and accurate information regarding the bank rates and account information.
Additional resources to help consumers find the best CD rates in the region are available at Illinois CD rates.