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The Citizens National Bank offers a wide range of CDs and IRAs with competitive rates that meet your needs. Get started by speaking to a Customer Service Representative at your local CNB branch.
Contact Us Calculators
Certificates of Deposit
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Length of Term Options
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7 Days – 60 Months
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Minimum Opening Deposit
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Term < 91 Days: $5,000.
Term > 91 Days: $500.
Term = 2-Step 15 Month: $5,000.
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Renewal Terms
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Same term as COD
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Grace Period
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10 Calendar Days After the Maturity Date
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Interest Payment
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Compounded, credited to named account or paid by check
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Interest Calculated
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Daily Balance Method
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Early Withdrawal Penalty
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Term < 365 Days = 90 Days Interest on Amount Withdrawn
Term > 365 Days = 180 Days Interest on Amount Withdrawn
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Exceptions: We are permitted to allow an early withdrawal and waive the above penalty if:
- Any account owner dies or is declared incompetent.
- This is an IRA or Keogh account and you are at least 59 ½ years of age or disabled at the time of the withdrawal request.
- This is an IRA or Keogh account and the request for withdrawal is made within seven days of establishing the account. (The penalty in such case will be all interest earned on the amount withdrawn.)
Individual Retirement Accounts
The Citizens National Bank is pleased to offer a wide variety of Individual Retirement Account Products.
- Traditional (regular) IRA
- Roth IRA
- Conversion Roth
- Rollovers
- SEP (Simplified Employee Pension) IRA
- SIMPLE (Savings Incentive Match Plan for Employees)
| Accounts | Traditional IRAs | Roth IRAs | Rollover IRAs |
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Eligibility:
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Under 70 1/2 - earned income
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None - earned income
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Tax Advantages:
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Contributions may be tax deductible
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Tax-deferred growth
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Tax-free* growth
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Account continues to grow tax-deferred
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No taxes on earnings until withdrawn (when you may be in a lower tax bracket)
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Tax-free* at retirement
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No taxes on earnings until withdrawn (when you may be in a lower tax bracket)
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Maximum Contributions:
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See IRS Guidelines
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See IRS Guidelines
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See IRS Guidelines
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Withdrawals:
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Taxable
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Yes, as ordinary income
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No, tax-free*
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Yes, as ordinary income
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Penalty-free**
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If you're over age 59 1/2 (or certain exceptions may apply)
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Contributions can be withdrawn at anytime (not earnings)
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If you're over age 59 1/2 (or certain exceptions may apply)
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Earnings if over age 59 1/2
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Required Minimum Distributions
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Yes, at age 70 1/2
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None
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Yes, at age 70 1/2
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Bank Deposit Options:
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FDIC Insured
Certificates of Deposit
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FDIC Insured
Certificates of Deposit
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FDIC Insured
Certificates of Deposit
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* If withdrawn after age 59 1/2 and the account has been open for 5 years or more (begins with tax year of the first contribution)
** Withdrawals made from a bank certificate of deposit before the maturity date may result in substantial penalty.
(Please consult your Tax Advisor for information on which product is right for you)
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FDIC-Insured - Backed by the full faith and credit of the U.S. Government