Damariscotta Bank & Trust Co. is offering very competitive CD and IRA Rates. While, at present, most banks offer a 5 year CD and IRA rate within the 2%APY to 3%APY range, Damariscotta Bank & Trust Co. offers a 5 year CD and IRA rate at 3.25%APY. According to the bank’s rate sheet, the rate took effect December 2, 2009 but may change at anytime without notice.
In addition, the bank offers additional CD and IRA terms as follows:
- 1 year – 1.50%APY
- 2 year Investors Choice – 1.80%APY
- 3 year – 2.40%APY
- 4 year – 2.75%APY
Only $500 is the required minimum balance to earn the aforementioned APYs however there may be fees and penalties that could reduce your earnings.
Based in Maine, Damariscotta Bank & Trust Co. has 6 locations and is FDIC insured.