Certificates of Deposit & Individual Retirement Accounts
From Gulf Coast Bank & Trust Company With Locations Across Metro New Orleans & Baton Rouge
Along with our variety of checking account and savings account products, we offer Certificates of Deposit (CDs) and Individual Retirement Accounts (IRAs). Both are great interest-building investment options.
CDs and IRAs can be important parts of your well-rounded personal finance plan. And we’re happy to help you determine if a CD or a personal IRA is right for you. Learn more about both of these products below.
CDs, or Certificates of Deposit, help your money grow with the power of interest and time. These accounts function similarly to savings accounts, but they have a higher fixed interest rate and a fixed term of your choice.
We offer a variety of flexible CD terms, from 90 days all the way to 7 years.** You can view our most current CD interest rates below. Upon your CD’s maturity date, you’ll have the option to withdraw your funds or reinvest them in a new interest-bearing CD account.
Visit your local branch to learn more about Certificates of Deposit and apply for one. NEW! Account online account opening options now available.
CD Terms Rate APY* 90 Days** 4.25% 4.32% 6 Months 4.50% 4.55% 9 Months** 4.75% 4.77% 12 Months (1 Year) 5.00% 5.00% 18 Months (1.5 Years)** 4.60% 4.60% 24 Months (2 Years) 4.25% 4.25% 36 Months (3 Years) 4.00% 4.00% 48 Months (4 Years) 4.00% 4.00% 60 Months (5 Years) 4.00% 4.00% 72 Months (6 Years)** 4.00% 4.00% 7 Years and Above** 4.00% 4.00%
It’s NEVER too early or too late to save for retirement. Many jobs offer an employer-sponsored IRA, or Individual Retirement Account, as a benefit. But if you don’t have that benefit or want to diversify your retirement savings, a personal IRA account may be just what you need.
We offer Traditional IRAs, Roth IRAs, and Coverdell Education Savings Accounts (ESAs) (the former Education IRA). We can also handle IRA account rollovers when you need them.
Traditional IRAs – Traditional IRAs allow you to make pre-tax contributions you can invest and watch grow overtime. When you retire, you’ll pay income tax on your withdrawals.
Roth IRAs – Roth IRAs are funded with after-tax dollars for investment. Once you begin withdrawing your funds in retirement, the money is tax-free.
Coverdell ESAs – These accounts are education savings accounts that allows families to increase investment earning through tax-deferral as long as the funds are used for educational purposes. College expenses and certain K-12 expenses qualify.
There’s a lot more to know and understand about your IRA choices. We can help you make sense of them and determine which account is best for your retirement goals.
Visit your local branch to discuss your options and open an account today.
Penalties apply for early withdrawal of principal.