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Personal Banking CD & IRA Accounts

Our Story
Our Why
Community Empowerment
Stewardship Program

Financial Calculators

Resource our home, personal, investment, retirement and leasing calculators to help make informed financial decisions.

Our Growth

Through key strategic initiatives Providence Bank & Trust continues to grow the neighborhoods in which we serve. We look forward to continued progress as well as being the local bank in the communities we serve.

Safety & Security

Learn how to protect yourself against imposters pretending to be the FDIC.

Our experienced professionals are ready to assist you in choosing the certificate of deposit or Individual Retirement Account (IRA) that works best for you.

Providence Certificates of Deposit

For customers who value investing at a higher fixed rate of interest for a fixed term, Providence Bank & Trust Certificates of Deposit (CD) provide these advantages:

  • Higher interest rate
  • FDIC insured
  • Terms from three months to five years*
  • $2,500 minimum deposit for CDs with terms of three or six months
  • $1,000 minimum deposit for CDs with terms of one year or longer
  • Interest is compounded and can be transferred to your checking
    or savings account
  • CDs automatically renew at maturity for the same term but at
    the interest rate offered for that term on the day of renewal

* A substantial penalty applies for early withdrawal.

Providence IRA Certificates of Deposit

For customers who value easy investing for retirement, Providence Bank & Trust IRA Certificates of Deposit provide these advantages:

  • Higher interest rate
  • FDIC insured
  • Terms up to five years*
  • IRA CDs allows additions during the term
  • $1,000 minimum deposit
  • Compounded interest paid quarterly
  • CDs automatically renew at maturity for the same term but at
    the interest rate offered for that term on the day of renewal

* A substantial penalty applies for early withdrawal.

CDARS
Providence Bank & Trust is a member of CDARS® – a valuable cash management or longer-term investment tool for our customers.
What is CDARS?

CDARS is the Certificate of Deposit Account Registry Service®. With it you can enjoy full FDIC insurance protection on CD deposit amounts greater than $250,000 and up to $50 million.

How does CDARS work? 

It’s as simple as 1, 2, 3…

  1. Based on our CD options available, you select an interest rate and maturity that best matches your investment goals and sign a Deposit Placement Agreement with us.
  2. Providence Bank & Trust then places your funds into CDs issued by other banks that are members of a special network – in increments of less than $250,000 – so that both principal and interest are eligible for complete FDIC protection. As a result, you can receive coverage from many banks while working with just one – Providence Bank & Trust.
  3. You earn one interest rate and receive one statement and one year-end tax form.