Interest paid by check, compounded to the certificate or credited directly to your SCB checking or savings account
Interest can be paid monthly, quarterly, semi-annually or annually
Substantial penalties applied for early withdrawal
Certificates may be used as collateral for loans without losing interest on the CD or paying a penalty
Individual Retirement Account (IRA)
Traditional and Roth IRA's
18 month terms
Fixed and Variable Rate IRA's available
Interest compounded daily, paid every three months from date of opening
Coverdell Education Savings Account
The Coverdell Education Savings Account exists to help with the educational expenses of children and can be established at birth for any education they receive until the age of 30 years of age. This is a non-deductible account with no tax due on interest and no penalty for qualified distributions (up to $2,000 per year.)
