Savings

At Clear Mountain Bank, we are dedicated to giving you the options you need to plan a lucrative investment strategy for the future. We realize every dollar is essential. That is why we offer a variety of Personal Savings Accounts and Certificates of Deposit that offer safe and predictable savings growth.

Savings Accounts & CDs

Open an Accountfor branch locations

Personal Savings Account

Let your money work for you with a competitive rate of interest.

Learn Moreabout Personal Savings

Christmas Club Account

Fixed rate of interest throughout the contract year
Variety of plans, each tailored to meet specific needs
Advanced distribution of funds for holiday shopping
Easy renewal using the same account number each year

Learn Moreabout Christmas Club Account

Insured Cash Sweep (ICS)

Feel good knowing your money is eligible for protection backed by the full faith and credit of the federal government.
Put excess cash balances to work in interest-bearing savings accounts (money market deposit accounts).
Withdraw ICS funds up to six times per month.
Know your money is always deposited in regulated, FDIC-insured institutions, and you can monitor your funds online.
Work directly with Clear Mountain Bank – a bank you know and trust.

Learn Moreabout Insure Cash Sweep Account

Health Savings Account

Set up an account to save for future medical expenses.

Learn Moreabout Health Savings Account

Certificates of Deposit (CDs)

Investments earn interest at a competitive market rate; earnings are accrued daily with a variety of options for payment, including compounding.
Fixed rate and terms of investments for stability. Certificates range in terms from 7 days to 5 years.
Investment can be automatically renewed after each term. The current market rate of interest determines the renewal rate.
Clear Mountain Bank’s Freedom CD allows you to “bump up” your interest rate once during the term.

Learn Moreabout CDs

Certificate of Deposit Account Registry Service (CDARS)

With Clear Mountain Bank’s CDARS Program, you receive full FDIC Insurance coverage on deposits from $250,000 - $50 million. Earn a competitive interest rate and enjoy the convenience of working with your local community bank.

Learn Moreabout CDARS

Individual Retirement Account (IRAs)

Payday IRA
Adjustable Rate IRA
Fixed Rate IRA
Roth IRA
Coverdell Education Savings Account

Learn Moreabout IRAs

Savings Rates	Rate	APY*	Minimum Balance to Obtain APY
Regular Savings (Effective 8/1/2020)	0.05	0.05	$1.00
Variable IRAs** (Effective 7/1/2022)	2.75	2.75	$10.00
PayDay IRA*** (Effective 4/1/2020)	0.08	0.08	$10.00
Christmas Club**** (Effective 10/11/2013)	0.05	0.05	$1.00
Health Savings (First and Second Tiers)	0.30	0.30	$1.00
First Tier - $0 to $4,999.99	0.50	0.50	$5,000.00
7 Day CD	0.03	0.03	$1,000.00
31 Day CD	0.04	0.04	$1,000.00
91 Day CD	0.09	0.09	$1,000.00
182 Day CD	0.12	0.12	$1,000.00
12 Month CD	0.20	0.20	$1,000.00
18 Month CD	0.22	0.22	$500.00
24 Month CD	0.25	0.25	$500.00
30 Month CD	0.30	0.30	$500.00
36 Month CD	0.40	0.40	$500.00
48 Month CD	0.45	0.45	$500.00
60 Month CD	0.60	0.60	$500.00
84 Month CD	0.75	0.75	$500.00
96 Month CD	0.75	0.75	$500.00
Freedom CD - 36 months	0.40	0.40	$1,000.00

* Annual Percentage Yield
** Your interest rate and annual percentage yield may change the first of each calendar quarter. IRA’s mature 18 months from date of opening. Rates effective 7/1/2022.
*** Your interest rate and annual percentage yield may change at anytime at our discretion.
**** Maturity date of this club account is October 2022. Its term varies depending on when the account was opened. Rate effective 10/11/2013.
Minimum balance to open accounts are as follows:

Regular Savings and Christmas Club – $1.00
IRA’s – $10.00
Certificate of Deposits – $500.00/ $1,000

Fees may reduce earnings.

Penalty for early withdrawal may be imposed on all accounts listed above with the exception of Regular Savings. Rates and APY’s are accurate as of 8/2/2022 (unless otherwise noted).

Clear Mountain Bank provides these rates for informational purposes only. These rates are subject to change and should not be used for financial or future planning. For actual current rates please contact your local Clear Mountain Bank office.