Certificates of Deposit

CapitalSouth Bank offers competitive interest rates with a wide range of maturities.

	General Information: For those customers who want to earn the most interest with the least risk. A Certificate of Deposit might be the right investment option for you.
	Features
	A minimum deposit of $1,000.00 to open this account
	A variety of maturity dates available
	Pays a market rate of interest through maturity date
	Interest compounds annually
	CDs are automatically renewed after the 10 day grace period (they are backdated to original maturity date).
	CDs can be used as collateral on loans
	Interest may be reinvested, deposited to another CapitalSouth Bank account, or paid out by check.
	Penalty for early withdrawal
	Deduct .10% if interest is paid by check
Traditional IRA	General Information: Tax-deferred retirement plans in which taxes may not have been paid on contributions. Interest is tax deferred until the year withdrawn.
	Features
	No IRS penalty for withdrawal at age 59 ½ and over.
	At age 59 ½, withdrawal options of one lump sum payment or monthly, quarterly or annual payments with no bank penalty.
	10% IRS penalty for early withdrawal (under age 59 ½, unless an exception applies).
	The year an owner reaches age 70 ½, the required minimum distributions begin. Options include lump sum distribution, monthly, quarterly or annual distributions.
	No additions are allowed to IRA CDs.
	Minimum of $1,000.00 to open
	IRA CDs are automatically renewable after the 10 day grace period.
	Interest compounds quarterly
ROTH IRA	General Information: A Roth IRA is a non-tax-deductible account that features tax-free withdrawals on earnings for certain distribution reasons after a five-year holding period.
	Features
	As with a Traditional IRA, earnings are not taxed while in your Roth IRA allowing them to grow potentially more rapidly than a taxable investment.
	In addition, the Roth IRA offers a tax benefit never before available: earnings are not taxed at withdrawal either, as long as five years have passed, starting with the year of your first Roth IRA contribution, and you are age 59½ or older, become disabled or make a qualified first-time home purchase, or following your death.
	Contributions can continue to be made after age 70½ as long as you continue to have an "earned" income.
	Annual contributions are not deductible but because taxes have already been paid, contributions will be tax free when withdrawn.
	There is not a required distribution at age 70½.
	No additions are allowed to IRA CDs.
	Minimum of $1,000.00 to open
	IRA CDs are automatically renewable after the 10 day grace period.
	Interest compounds quarterly