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CDs & IRAs

Certificates of Deposit / IRA Certificates of Deposit (Traditional, Roth, Educational)

Richton Bank and Trust Company offers a variety of investment plans with flexible rates and maturities.

• MINIMUM BALANCE TO OPEN ACCOUNT: $1000
• MINIMUM BALANCE TO OBTAIN THE ANNUAL PERCENTAGE YIELD DISCLOSED: The disclosed
  annual percentage yield assumes the interest will remain on deposit until maturity. A withdrawal of interest will reduce the annual percentage yield. The disclosed annual percentage yield will be paid on the entire balance.
• CCOMPOUNDING AND CREDITING FREQUENCY: Interest accrues daily and is credited to your account or paid to you monthly, quarterly, semi-annually, at maturity, or as agreed upon.
• TRANSACTION LIMITATIONS: After the account is opened, you may not make any deposits into or withdrawals from the principal in the account until the maturity date.
• CERTIFICATE RENEWAL AND INTEREST ACCRUAL AFTER MATURITY DATE: No interest will accrue after maturity date for a single maturity Certificate. If Certificate automatically renews, a grace period of ten (10) days from maturity date exists to present the certificate for payment without penalty. If the certificate automatically renews, it will be renewed at the rate in effect at this institution on the date of maturity. For renewed certificates interest will begin accruing from the first (1) day of the grace period. Certificates presented for payment will not earn interest after maturity.
• PENALTIES FOR EARLY WITHDRAWAL: A penalty of three (3) months interest on the amount withdrawn at the rate being paid upon deposit will be imposed on Certificates of Deposit with original maturity of one (1) year or less. A penalty of six (6) months interest on the amount withdrawn at the rate being paid upon deposit will be imposed on Certificates of Deposit with original maturity of more than one (1) year.

Individual Retirement Accounts (Savings)
(Traditional, Roth, Educational)

• MINIMUM BALANCE TO OPEN ACCOUNT: $25
• MINIMUM BALANCE TO OBTAIN THE ANNUAL PERCENTAGE YIELD DISCLOSED: The disclosed annual percentage yield will be paid on the average collected balance.
• COMPOUNDING AND CREDITING FREQUENCY: Interest accrues daily and is compounded and credited the last business day of the quarter.
• EFFECT OF CLOSING AN ACCOUNT: If you close your account before interest is credited, you will not receive the accrued interest.
• MINIMUM BALANCE TO AVOID IMPOSITION OF FEES: A minimum balance fee of $5.00 will be imposed every quarter if the daily balance of the account falls below $25.00 any day of the quarter.