Legacy Bank IRA rates and special promotion time deposit

Legacy Bank, a financial institution serving the greater Sedgwick area in Kansas, currently has a special promotion on time deposit.

The special promotion rates below are current as of April 7, 2010. It may be worth checking for those individuals interested in banking with Legacy Bank.

The terms of the special promotion time deposit and the corresponding rates offered are the following:

  • 7 month – 1.25%APY. Requires $5,000 minimum opening deposit
  • 13 month – 1.45%APY. Requires $,5000 minimum opening deposit

Note that the APY assumes interest earned will remain on deposit until maturity. It automatically renews for the same term at a 2 year Time Deposit rate but the bank penalizes early withdrawals.

For individual retirement accounts, the minimum opening deposit required is only $100. The terms and rates are as follows:

  • 6 month – 1.15%APY
  • 18 month – 1.50%APY

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