Certificates of Deposit
Vermilion Bank offers a wide variety of Certificates of Deposit to our customers, ranging in terms from seven days to several years. CDs are the perfect investment if you are seeking a higher interest rate and do not need immediate access to your funds. They are an excellent way to maximize your interest earnings while enjoying the safety and stability they offer. A penalty may be imposed for early withdrawal from a Certificate of Deposit. Please contact one of our customer service representatives at 337-643-7900 for information about our interest rates and terms.
Individual Retirement Accounts
An IRA from Vermilion Bank can be the perfect supplement to other pension plans or
social security income you anticipate in retirement. IRAs let you save for tomorrow while taking advantage of possible tax breaks today. We offer both Traditional IRAs and Roth IRAs. For example, eligible savers may enjoy tax benefits during their income producing years with a Traditional IRA, which is taxed at the then current tax rate upon withdrawal. A Roth IRA, however, is funded with after tax dollars but grows and is distributed tax free for qualified savers. Ask our banking professionals for details concerning interest rates and terms.
As always, Vermilion Bank recommends that you consult with your accountant regarding any retirement plan.