Secure Your Future With CDs, IRAs, and Money Markets at Phoenixville Federal Bank & Trust
At Phoenixville Federal Bank & Trust, we offer a wide range of financial products to help you achieve your goals.
Understanding Certificates of Deposit (CDs)
Certificates of Deposit, or CDs, are a trusted and low-risk investment option. When you invest in a CD, you agree to deposit a fixed amount of money with the bank for a predetermined period. In return, you receive a fixed interest rate typically higher than regular savings accounts. At Phoenixville Federal, our rates are competitive, ensuring your money grows steadily over time.
When your goal is income:
- $5,000 minimum to open
- Simple interest paid monthly or quarterly
- Terms: 6, 12, 18, 30 or 60 months
- Penalties may apply for early withdrawal
When your goal is growth:
- $500 minimum to open
- Interest compounded daily & posted quarterly
- Terms: 3 to 60 months
- Penalties may apply for early withdrawal
What Is an IRA
An Individual Retirement Account or IRA is a tax-advantaged retirement account designed to help individuals save for their golden years. Traditional IRA accounts offer tax deductions when you contribute, while Roth IRA accounts provide tax-free withdrawals in retirement. At Phoenixville Federal, we offer both a Roth and a Traditional IRA to cater to your specific financial goals. Phoenixville Federal offers IRA savings through our Growth Certificate of Deposit accounts, or just $20 opens an Individual Retirement Statement Savings Account.
Explore Money Market Accounts
In addition to IRAs and CDs, Phoenixville Federal offers money market accounts with competitive money market rates.
- Variable rate interest based on tiered balances compounded daily & credited monthly
- $2500 minimum to open, earn interest, and avoid a service fee
- $6 monthly service fee if daily balance falls below $2500
If you’re looking to secure your financial future, consider the power of IRAs, CDs, and Money Market accounts at Phoenixville Federal. Our commitment to providing personalized financial solutions makes us the trusted choice for your banking needs. Contact us today to learn more about how we can help you achieve your financial goals.
