Home   Contact Us   Hours   News & Extras   Calculators
Silex Banking Company

CDs & IRAs

Certificate of Deposit

  • $1,000.00 minimum deposit required.
  • No early withdrawal allowed.
  • All interest rates are subject to change without notice.
  • Interest may be paid by reinvestment, check or transfer to account at the bank.
  • Interest can be paid monthly, quarterly, semi-annually or annually.
Term Interest Rate*† Annual Percentage Yield**
91 Day   .50%    .50%
182 Day   .60%   .60%
12 Month   .90%   .90%
18 Month    .95%    .95%
24 Month   1.05%   1.06%
30 Month   1.10%  1.11%
36 Month 1.30% 1.31%
48 Month 1.55% 1.56%
60 Month 1.80% 1.81%

* Interest Rates quoted are effective today only; they are subject to change without notice.
† Interest Rates quoted are for consumer accounts only; call 573-384-5221 for commercial interest rates.
** Annual Percentage Yield assumes interest will be reinvested monthly to the CD and $1,000.00 minimum balance required to obtain APY.

Individual Retirement Account

  • Three different IRA’s plans to chose from: Traditional, Roth and Coverdell Education Savings Account (CESA).
  • Invested into eighteen month fixed rate Certificate of Deposit.
  • Interest reinvested monthly.
  • $50.00 minimum deposit required.
  • All interest rates are subject to change without notice.

Traditional

This is a custodial account for an individual with earned income.
Deposits can be up to $5,500/year and $6,500/year for those age 50 and over.
Disbursements can begin at age 59 ½.
IRA certificates can be automatically renewed.
IRAs can be transferred from other institutions at no charge.
Disbursements can be made before retirement age for qualified reasons.

Roth IRA

Funds invested are after tax dollars.
Contributions are not tax deductible.
IRA certificates can be automatically renewed.
Deposits can be up to $5,500/year and $6,500/year for those age 50 and over. Disbursements can be made before retirement age for qualified reasons.

Coverdell Education Savings Account

The CESA is designed to save for a child's education.
Deposits can be up to $2,000/child/year.
IRA certificates can be automatically renewed.

Term Interest Rate* Annual Percentage Yield**
18 Month  .95%  .95%

* Interest Rates quoted are effective today only; they are subject to change without notice.
** Annual Percentage Yield assumes interest will be reinvested monthly to the IRA and $1,000.00 minimum balance required to obtain APY. Fees may reduce earnings on the account.

   
   
Home | Products & Services | Online Banking & Bill Pay | ATM & Debit Cards
Agriculture | Links | Online Security