Fixed and Variable Rate Certificates
Carolina Trust offers a wide array of certificate options*, including the Money Builder Certificate for the beginning saver who is ready to open this 12-month certificate with just $100 to start. Additionally, we have regular fixed-rate and IRA fixed-rate certificates with terms from 3 to 60 months requiring only a $250 minimum deposit. The dividend rate increases with a longer-term commitment. If you like the thought of adding funds to your certificate, then the 18-month variable rate certificate may be best for you. The dividend rate may vary monthly, but you can make deposits to this certificate as often as you prefer, and a $250 deposit will get you started. Visit our Savings Rates page for more details.
*Certificates subject to penalty for early withdrawal. Withdrawals will reduce earnings.
Concerned about committing to a term certificate if rates were to rise?
We have the solution – our Bump-A-Rate option!
The Bump-A-Rate option is available on any fixed-rate certificate with an 18-month or greater term. After the first 12 months, if the rate goes up, you may bump your rate to the new and better rate without extending the certificate’s original maturity date.
If the certificate term is 18-36 months, you may bump the rate once. If the term is at least 48 months, you may bump the rate twice. How’s that for flexibility!
Retirement Savings and IRA Options
If you’re saving for retirement, then you may want to consider an Individual Retirement Account (IRA). Carolina Trust offers an IRA Savings account as well as Fixed and Variable Rate IRA certificates that require term commitments starting at just 6 months. The fixed dividend rate increases with a longer-term commitment, and the 18-Month Variable Rate IRA certificate permits the owner to make unlimited deposits during the term. All IRA certificates require a minimum $250 balance.
We have provided digital brochures to help educate retirement savers about the features and benefits of Roth and Traditional IRA accounts. Please consult your Tax Advisor regarding any IRA account you may be looking into.