Yielding a better interest rate than other savings plans, these accounts are recommended for those who have longer-term goals and little need for immediate accessibility.
Certificates of Deposit
CDs offer guaranteed interest rates that vary according to length of maturity.
- Minimum investment: $1,000
- Maturities range from 30 days to five years.
- Interest is calculated on a 365-day basis at a rate determined by the term. Interest may be paid to the customer or added back to the certificate using varying methods according to the size of the CD and maturity.
- CD's can be used as loan collateral, and penalties for early withdrawal vary according to time remaining to maturity.
Individual Retirement Account (IRA)
IRAs provide a way to save for retirement and enjoy tax benefits. Trustmark offers several IRAs, including self-directed, with different funding arrangements. Our financial service representatives can provide advice on which is best for your particular circumstances, needs, and expectations.