Personal CDs, CDARS, & IRAs

CDs (Certificates of Deposit)

If you have the flexibility to leave your funds on deposit for a longer period of time, this account is perfect for you.  We offer a wide range of terms from 3 months to 4 years.  Choose a term that meets your needs and start earning a guaranteed fixed interest rate. Plus, there's no risk because your CD is FDIC insured. As a member of CDARS, The Milford National can provide you with access to multi-million dollar FDIC insurance coverage.

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A penalty may be imposed for withdrawals from Certificates of Deposit before maturity and may reduce earnings.

CDARS® (Certificate of Deposit Registry Service)

CDARS is the most convenient way to access full FDIC insurance on CD investments larger than $250,000. The Milford National is a member of the CDARS Network so you can access multi-million dollar FDIC insurance through us.

When you place a large dollar amount with us, your deposit is divided into smaller amounts and placed with other FDIC-insured banks in the same network.  Those member Institutions issue CDs in amounts under $250,000 so your entire investment is eligible for FDIC insurance.

As a result, you can receive coverage from many banks while working with just one. You will no longer have to spend time managing multiple bank relationships. The Milford National will act as custodian for your CDARS deposits.

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CDARS is a registered service mark of Promontory Interfinancial Network, LLC.

IRAs (Individual Retirement Accounts)

Your IRA options are: investment, rollover and distribution. Basically, your IRA options translate to who, what, where, when, why and how of your retirement money.  At The Milford National we offer a variety of IRA options.

  • Traditional IRAs- often tax deductible (consult your tax advisor), transactions and earnings within the IRA generally have no tax impact, and withdrawals at retirement are taxed as regular income.
  • Roth IRAs - contributions are made with after-tax assets, transactions within the IRA generally have no tax impact, and withdrawals are usually tax-free.
  • Coverdell Education Savings Account – this account is a non-deductible account that features tax-free withdrawals for a very specific purpose – a child's education expenses.

Speak with one of our knowledgeable representatives to help decide which one is right for you and start saving with potential tax advantages. As always, consult with your tax advisor.

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