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CDs & IRAs

Grow toward a brighter financial future when you invest in Certificates of Deposit and Individual Retirement Accounts at New Peoples Bank.
 

Good planning today can reap valuable benefits tomorrow

Whether you're putting together a retirement savings plan or you want to boost your savings in the short-term, you'll find some of our highest interest rates in CDs and IRAs. 




Certificates of Deposit

CDs lock in a fixed rate for predictable growth, letting you know exactly what your savings will earn, without fees, and plan to withdraw or reinvest at maturity.

IntraFi Network Deposits

Insure deposits above the $250,000 FDIC limit while working with New Peoples Bank as your single point of contact. Your funds remain secure, earn competitive interest, and continue supporting your local community.

Savings Roth IRA

Distributions are tax-free in retirement, and you can add money to these accounts anytime.
 

Savings Traditional IRA

Annual contributions may be tax-deductible, and you can add money to these accounts anytime.

CD Roth IRA

Earnings are tax-free once you begin distribution upon retirement, and there's no requirement to begin distribution at age 72.

CD Traditional IRA

Contributions may be tax-deductible with this investment option.

Coverdell Education Savings IRA

Coverdell accounts help cover college or private K–12 tuition and offer tax benefits similar to IRAs, with contributions allowed until age 18 (no limit for children with special needs).






























Account Details:

  • Invest and earn interest with a minimum $500 deposit1
  • Terms range from 6 to 60 months2
  • Interest can be compounded, deposited to a checking or savings account, or paid by check
  • These are fixed investments of a specific sum of money for a specific period of time
  • Withdraw funds prior to maturity by paying an early withdrawal penalty. Terms 12 months or less, 3 months' interest, and terms over 12 months, 6 months' interest on amount withdrawn.
  • Insured up to $250,000 by the FDIC
  • Minimum investment: $10,000
  • Funds are placed into FDIC‑insured CDs across IntraFi’s nationwide network
  • Your investment appears as though it’s held with New Peoples Bank alone
  • Receive one monthly statement showing issuing banks, balances, rates, and maturity dates
  • Interest may be compounded, deposited into a checking or savings account, or paid by check
CD Terms Available
  • 4‑Week
  • 13‑Week
  • 26‑Week
  • 52‑Week
  • 2‑Year
  • 3‑Year
  • Open with a minimum $25 deposit
  • Variable interest rate
  • Contributions are not tax-deductible
  • Can withdraw contributions and earnings without taxes or tax penalties
  • No requirement to begin distribution by age 72
  • Contribute funds anytime up to the annual limit, set each year by the IRS
  • Open with a minimum $25 deposit
  • Variable interest rate
  • Withdrawals before 59 1/2 incur a tax penalty. All withdrawals are taxable income.
  • Funds are taxable when they are distributed
  • Distribution must start by age 72
  • Contribute funds anytime up to the annual limit, set each year by the IRS
  • Open with a minimum $500 deposit
  • Fixed interest rate
  • Terms range from 12 to 60 months
  • Contributions are not tax-deductible
  • Can withdraw contributions and earnings without taxes or tax penalties
  • No requirement to begin distribution by age 72
  • Funds cannot be added once the CD is opened
  • Annual contribution limits are set each year by the IRS
  • Open with a minimum $500 deposit
  • Fixed interest rate
  • Terms range from 12 to 60 months
  • Withdrawals before 59 1/2 incur a tax penalty. All withdrawals are taxable income.
  • Funds are taxable when they are distributed
  • Distribution must start by age 72
  • Funds cannot be added once the CD is opened
  • Annual contribution limits are set each year by the IRS
  • Open with a minimum $500 deposit
  • Terms range from 12 to 60 months
  • Savings grow at a fixed rate
  • Contributions are not tax-deductible
  • Withdrawals permitted as needed for educational expenses
  • Earnings grow tax-free if distributions are for qualified education expenses
  • There's no required age of distribution
  • Annual contribution limits are set each year by the IRS



1Interest can be compounded, deposited to a checking or savings account, or paid by check.

2You can withdraw funds prior to maturity by paying an early withdrawal penalty. Terms 12 months or less, 3 months' interest, and terms over 12 months, 6 months' interest on amount withdrawn.

*Ask a New Peoples Bank representative for specific rates

3Penalties for early withdrawal may apply. Interest will accrue daily up to the date, but not on the maturity date. If the maturity date should fall on a non-business date, then the funds will be paid out the following business day.

**Annual contributions are limited per IRS guidelines.
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