Save Today, Savor Tomorrow
Certificates of Deposit (CDs) and Individual Retirement Accounts (IRAs) help customers maximize their savings by offering flexible terms and guaranteed returns. Kennebec Savings Bank offers several convenient options created by Maine bankers for Maine people: pure and simple.
CDs pay higher interest rates than regular savings accounts on money deposited for a set period of time. They have a fixed interest rate that accrues daily. Additionally, they are FDIC-insured up to $250,000, making CDs a safe, secure way to save money.
IRAs are tax-advantaged accounts that allow individuals to save for retirement. They offer a number of benefits, including tax-deductible contributions, tax-deferred growth, and the ability to withdraw money tax-free when you retire. Speak with your tax advisor to learn more about the rules and limitations of each account type.