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All-Star 7-Month CD
Thank you for your interest in our special All-Star 7-Month Certificate of Deposit. Please read the appropriate Consumer disclosures or Business disclosures before completing the application.
If you have read and understand the disclosures and would like to apply today, consumers apply here. If you are a business, apply here.
If you have any questions, or prefer to open your account by telephone with one of our All-Star CD specialists, our team is available to help you at 1-888-424-4184, Monday through Friday, 8:00 am to 4:30 pm. Please note: if the funds you are planning to deposit are IRA funds, please contact one of our All-Star CD specialists at 1-888-424-4184 (during normal business hours) for special assistance.
Additional CD & IRA Options
Savings Bank of Maine offers both Certificates of Deposit and Individual Retirement Accounts*(Traditional, SEP, SIMPLE, Roth and Coverdell). These popular products should satisfy your need to maximize your investment earnings. The following is a brief description of each of them.
For additional information about our CD and IRA Accounts, contact us, or call us at 582-5550 (1-888-424-4184, if Gardiner is a toll call) or stop by one of our branch locations.
Savings Bank of Maine's Certificates of Deposit offer rates that vary based on the term of the CD and the balance of the CD. Generally, the higher the balance and the longer the term, the higher the interest rate. Customer has three options for the interest earned. You can add the interest to the CD principal, have the interest deposited in a Savings Bank of Maine Checking or Savings Account or you can receive a monthly interest check. Consider our bank for Certificates of Deposit.
- Minimum deposit $500
- Minimum term is 6 months
- Maximum length is 7 years
- Available to any resident of our local area
- A savings or checking account is not required
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Individual Retirement Accounts were established by the Federal Government to allow an individual means to save for their retirement. These accounts are opened as individual accounts. To be eligible for a Traditional IRA the individual must be under the age of 70 1/2 and have earned compensation.
- No minimum to open
- Fixed terms ranging from 6 months to 5 years
- 18 month variable rate available
- Contribution may be tax deductible
- You have until April 15, to open and fund a Traditional IRA for the prior tax year
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*Note: Interest rates are set by management and may be changed at management’s discretion. A change in the rate will also affect the annual percentage yield. Interest is accrued on the daily collected balance in your account. It is compounded monthly and credited monthly. We pay interest from the day of deposit to the day of withdrawal.
Savings Calculator - This is a compound interest calculator that lets you start with an amount of money and see how much it grows. Please Note - The calculated amount is an approximate value and may differ from the bank's final calculation.
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