Money Market
For investment-minded individuals, an insured Money Market account is
a wise choice. The interest rates varies to reflect current market conditions.
So if rates rise, you can earn a higher rate. Interest is compounded
and paid monthly on the daily balance. Transactions are listed on your
monthly statement.
- minimum
to open account
$2,500.00
- minimum
daily balance to waive service fee
2,500.00
- minimum
daily balance to earn Regular Money Market rate
2,500.00
- monthly
service fee if below minimum balance
15.00
- over 6
transfers or 3 checks or similar orders made to third
parties per month* (per item)
10.00
High Yield Money Market
If you are looking for the highest yield possible rate with complete
liquidity, a High Yield Money Market Account is the answer. Interest is
compounded and paid monthly on the daily balance.
- minimum
to open account
$1,000.00
- minimum
daily balance to waive service fee
10,000.00
- minimum
daily balance to earn High Yield Money Market rate
10,000.00
- monthly
service fee if below minimum balance
25.00
- over 6
transfers or 3 checks or similar orders made to third
parties per month* (per item)
10.00
Certificates of Deposit
A Certificate of Deposit offers a high fixed rate of interest at the
term of your choice.
Ask a
Personal
Banker for
CD Specials currently available
and open an account today!
Terms
CD Minimum
7-31 day
91 day
6 month
1-5 year
$20,000
$2,500
$2,500
$1,000
Individual Retirement Account
An Individual Retirement Account (IRA) is a special savings plan insured
up to $250,000 by the Federal government to help you accumulate funds
for retirement. Any individual who has earned income or received alimony
may contribute to an IRA. Income from sources such as investments or
inheritance do not qualify. First Commercial Bank offers flexible terms
and competitive rates on the following types of IRAs: Traditional and
Roth.
Traditional IRA
Allows you to defer taxes on your earnings until they are withdrawn.
Contributions may also be tax deductible in the year they are made.
Roth IRA
This IRA is a nondeductible account that offers tax-free withdrawals
for certain distributions after a five year holding period. Since
Roth contributions are not deductible, people who except to be in
a higher income bracket at retirement may benefit from this account.
For more information on any one of our investment accounts, please
contact a Personal Banker or call
us at 773.761.4300.
Please call for our
competitive rates or visit
our Certificate of Deposit Rates /
Deposit Account Rates web page. Rates are set at the bank's discretion and may change
at any time. Money Market accounts closed during a statement cycle will
not earn accrued interest for that period. Interest begins to accrue
on the business day of your deposit. *You are limited to 6 pre-authorized
transfers, no more than 3 of which may be by check, draft, ATM/Debit
Card or similar order made to third parties per month.
