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CDs and IRAs

Certificate of Deposit (CD)

A CD allows you to earn higher interest rates for depositing your money for a specific period of time. These FDIC insured1, interest-bearing accounts2 can help you earn a higher fixed interest rate than you might with a traditional savings accounts. At Bar Harbor Bank & Trust, you can:

  • Open a CD with as little as $500 with terms from 1 month to 5 years
  • Make incremental deposits of $250 or greater for terms 1-11 months
  • Make one fee-free withdrawal per term if you have an Advantage CD. $10,000 minimum balance to open with terms of 1-9 months available

Contact us to learn more and see current rates.

Individual Retirement Accounts

Individual Retirement Accounts (IRAs) are tax-advantaged accounts specifically set up to be used during retirement.  An IRA CD is an IRA where your money is invested in CDs. This means that you can take advantage of the higher interest rates and stability of CD products without the risk of traditional investments such as stocks. By opening a CD as an IRA, you may be able to enjoy tax benefits, but you typically have to wait until the age of 59 ½ to take money out of an IRA without paying a penalty.

The sooner you start saving, the longer your money has to grow. We offer several FDIC insured1 IRA CD options to choose from with terms of 1 month to 5 years including Traditional IRA, Roth IRA, and SEP IRA.

These accounts offer a fixed rate of return to help you grow your retirement savings.

Our team of experts can help you understand your IRA options and choose the account that works best for you. Stop by your nearest branch or call us at 888-853-7100 to get started.

Current CD IRA Special

5-5-5 CD IRA

5-5-5 CD IRA logoOur new 5-5-5 CD IRA3 account is great for anyone looking for a risk-free retirement savings option offering solid returns. The account features a 5-year term and 5 great rates, with a $5,000 minimum deposit.

The 5-5-5 is a rising rate IRA CD, which means the rate will increase at the following intervals each year of the 5-year term:

  • Year one: 0.30%
  • Year two: 0.60%
  • Year three: 0.90%
  • Year four: 1.20%
  • Year five: 1.50%

The blended APY is 0.89%.

The 5-5-5 CD IRA requires a minimum opening deposit of $5,000 and is available to customers with a Bar Harbor Bank & Trust personal or business checking account. The product is only available as an IRA.

To open a new 5-5-5 CD IRA, visit your nearest branch.

1 Bank deposits such as CDs and IRA CDs are insured by the FDIC up to the applicable limits.
2 Interest rates and annual percentage yields are accurate as of 03/07/23. Subject to change by the bank anytime at their discretion.

3 Offer good for the initial term only. The account will automatically renew for the same term. The rate is determined based on the published rate for the IRA, excluding specials that is close to but not exceeding the term of the IRA. The interest rate is set at the time the account is opened and cannot change. Blended Annual Percentage (APY) assumes principal and interest remain on deposit for the term of the account.

Interest bearing accounts earn interest on all positive balances. Interest will be compounded every month. Interest will be credited to your account every month. CD early withdrawal penalties may apply and reduce earnings on the account.
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With over 50 locations across Maine, New Hampshire and Vermont, we’ve got you covered with full-service branches and ATMs.

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Amanda Robbins

Bar Harbor Financial Services

Looking for an alternative to CDs? Talk to our Financial Services Team.

Contact Us Bar Harbor Financial Services