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CDs
Current CD Rates 
 
Even if you invest in the stock market, you should also consider depositing a portion of your investments into an FDIC insured Certificate of Deposit at Bank of Zumbrota. There are no guarantees with the stock market, but with a Bank of Zumbrota CD we guarantee that you will not lose any principal, plus you have a guaranteed rate of return for the term of the CD! Now that's peace of mind. 
 
Bank of Zumbrota has standard CDs with terms of: 
91 days, 182 days, 1 year, 2 year, 3 year, 4 year, 5 year  
AND 
Three additional specialized CDs: 
 
INFLATE YOUR RATE CD  
Sometimes customers buy a CD for a certain length of time only to find out that within a few months, the interest rates went up. Unfortunately, their CD rate doesn't change until it matures. Our 24-month Inflate Your Rate CD is designed to help you out when rates are on the increase. It gives you the opportunity to increase your rate one time during the term of the CD. You can also make a deposit to your CD when you increase your rate. Once you increase your rate, you will earn the new higher rate of interest on all of the money in your CD until it matures.  
 
ACCOUNT FEATURES:  
  • $3000 minimum deposit to open the account
  • You may make one deposit during the term of no more than the original investment amount
  • 24-Month term
  • Automatically renewable
  • Interest compounds quarterly
  • Interest is paid quarterly (paid to the CD, BOZ checking or savings account, or interest check)
  • There may be a penalty for early withdrawal
  •  
    TRIPLE PLAY CD 
    Bank of Zumbrota's 36-Month Triple Play CD offers a great deal of flexibility. You'll find that it makes sense for customers who want to combine several CDs that mature at different times. During the 36-Month term, you may make up to 3 deposits in increments of at least $3,000 and still continue to earn the initial interest rate. This a real benefit if you have additional funds to invest during a time of decreasing rates! 
     
    ACCOUNT FEATURES:  
  • $3000.00 minimum deposit to open the CD
  • 36-Month Term
  • Automatically renewable
  • Interest compounds quarterly
  • Interest is paid quarterly (add to CD, or credit BOZ checking or savings, or interest check)
  • You may make 3 deposits during the term of at least $3,000 each.  The maximum amount of the 3 deposits combined cannot be more than the original investment amount
  • There may be a penalty for early withdrawal
  •  
    YOUNG SAVERS CD 
    Uniform Transfer to Minors Act (UTMA) allows an adult to give money to a minor without having a complicated trust agreement drawn up. These funds can be deposited into our Young Savers Certificate under the child's name and social security number.  
     
    Open a Young Savers Certificate for as little as $300.00 with the option of making one or two deposits of at least $150.00 each year*!  
     
    *A 12-month period, based on your CD opening date. 
     
     
     
    Important Information About Procedures for Opening A New Account At Bank of Zumbrota  
    To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.  
    What this means for you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents. 
    FDIC
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