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Certificate of Deposits (CDs)

Certificates of deposit, or “CD's”, are perfect deposit products for customers who do not require immediate access to their funds and want to earn a higher rate of interest. Peoples Bank of Moniteau County offers a variety of CD options and term lengths. Competitive interest is compounded monthly, quarterly, and semi-annually depending on CD term. Substantial penalties will apply for early withdrawals see the “Account Disclosure” for more information on early withdrawal penalties.

CD accounts earn interest at the rate and annual percentage yield (APY) printed on the face of the CD for the initial term of the deposit. For each automatic renewal, the interest rate and annual percentage yield (APY) will normally renew at the prevailing APY and for the same term length. Summaries of CD points are as follows:

Terms offered:
  • 91 Day
  • 182 Day
  • 12 Month
  • 15 Month
  • 18 Month
  • 24 Month
  • 30 Month
  • 36 Month
  • 48 Month
  • 60 Month
  • $500.00 Minimum Opening Balance
  • Interest Compounds vary by CD Term
  • No deposits permitted
  • No withdrawals permitted
  • Automatically renewable unless otherwise stated
    • 10-day grace period to withdrawal the funds in the account
  • Early withdrawal penalty:
    • 91 day to 182 day = 30 days interest penalty
    • over 6 months = 90 days interest penalty

Individual Retirement Accounts (IRAs)

Peoples Bank of Moniteau County can help you choose the individual retirement account (IRA) savings that works best for you. Traditional IRA's are available. Our IRA terms and rates are identical to our CDs. There are not typically fees charged; however, substantial penalties will apply for premature withdrawals from fixed term IRAs. See the “Account Disclosure” for more information. Choosing the right IRA can help you realize your retirement goals.

IRA Transfers and Rollovers

It's easy to move your IRA to Peoples Bank of Moniteau County whether a Roth or Traditional, you can move existing IRA money as follows:

  • Transfers – you can come into our office, establish an IRA account with us and complete a transfer form. This form is then sent to the institution that currently holds your funds. After receipt, the funds are sent directly to us and deposited into your account. The IRS places no limits on transfers and no part of this transaction is reported to the IRS.
  • Rollovers – To complete a rollover, you take the funds from one institution and deposit them into another institution. A rollover may be done once per year and the deposit must be completed within 60 days of distribution from the first institution. A rollover is also used when moving funds from a qualified plan.

IRA Distributions

When you withdraw money from a retirement account, it is called a distribution. Distributions from a Traditional IRA are reported to the IRS as income and as such may be subject to income tax. There may also be IRS imposed penalties except under special circumstances; such as death, first time home purchase, disability, education, and reaching 59 ½.

Distributions from a Roth IRA have more complex tax implications. You should speak with your tax advisor, accountant, or attorney before proceeding with this type of transaction.

Required Minimum Distributions (RMD)

The IRS requires that, beginning in the year you become 70 ½ years of age, you begin taking a “Required Minimum Distribution” from your Traditional IRA each year. This amount will vary based upon governmental tables. Our representative will be happy to assist in calculating your RMD if requested.

Health Savings Accounts (HSA)

A Health Savings Account (HSA) is a tax exempt trust or custodial account established exclusively for the purpose of paying or reimbursing qualified medical expenses of you, your spouse, and your dependents.

If you are eligible, you can establish an HSA in much the same way you would establish an IRA—with a qualified trustee or custodian.  Each year, you are responsible for determining your allowable annual HSA contribution and whether you have qualified medical expenses eligible for reimbursement with nontaxable HSA distributions.












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