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CDs and IRAs

    Certificates of Deposit (CDs)

 
Minnesota Lakes Bank offers certificates of deposit as a financially secure investment. Certificates of deposit offer flexibility of terms with competitive rates.

Features and Benefits:

  • Terms from 91 days to 60 months
  • Competitive interest rates
  • Multiple interest payment options
    • Compounded
    • Paid by check
    • Automatically deposited to your checking or savings account
  • Convenient renewal process
    • A maturity notice is mailed prior to the maturity date
    • Certificates are automatically renewed at maturity
    • A 10-day grace period allows you to make changes without a penalty
  • FDIC insured

Penalties may apply for early withdrawal. Access our Financial Calculators to do "what if" scenarios for home budget, loans, savings and retirement.

    Individual Retirement Accounts (IRAs)

 
Minnesota Lakes Bank offers both traditional and Roth IRAs for your benefit.  Individual retirement accounts (IRAs) provide a viable option for planning and saving for a secure retirement. IRAs offer flexibility, accessibility, and independence from other forms of retirement plans.  Minnesota Lakes Bank IRAs are federally insured unlike other instruments such as bonds and stocks. You can invest your money in certificates of deposit or variable rate savings accounts.  Consult your tax advisor about the IRA best suited for you.

Features and Benefits:

  • No maintenance fees
  • Certificates of deposit are automatically renewed at maturity
  • Penalties may apply for early withdrawal
  • IRA transfers, rollovers, direct rollovers and regular contributions are available
  • FDIC insured up to $250,000

Please contact a bank representative for further details and current rates:
Delano: (763) 972-3385
Mound: (952) 472-5556