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Savings

Planning well means saving for the future, and Ledyard has a variety of ways to help you do that.

  Statement Savings Certificates of Deposit (Cds) Personal Step-Up Money Market Account
Interest Paid Yes Yes Yes
Balance required to earn interest Yes Yes Yes
ATM/Check Card – Unlimited use Yes NA No
Free Online Banking Yes NA Yes
Free Online Bill Pay Yes NA No
Check Paid Fee/Withdrawal Charge Yes NA Yes
Features
  • $250 average daily balance to earn interest
  • Four withdrawals at no charge per month - $.50 each withdrawal over four
  • $4.00 monthly service charge if average balance falls below $250
  • Service charges are waived for those 60 years and older, minors and Ledyard Plan clients
  • ATM services are available*
  • FDIC insured
  • Short and long-term investment options available
  • Minimum investment $500
  • Interest compounded daily and credited monthly
  • Preferred rates for those with a Ledyard checking account or Ledyard Plan clients
  • FDIC insured
  • Interest earned with a $1,500 daily balance
  • Interest earned may increase as your balance increases (see ledyardbank.com for rates)
  • Unlimited in-person and ATM withdrawals; $10.00 per item charge all other withdrawals exceeding six per statement cycle
  • $10.00 service charge if average monthly balance per statement cycle falls below $1,500
  • FDIC insured

INDIVIDUAL RETIREMENT ACCOUNTS (IRAS)

Individual Retirement Accounts are a convenient way to reduce taxable income and save for retirement.

  • FDIC insured, Ledyard National Bank offers a variety of tax-deferred retirement plans to meet an individual's specific financial needs.
  • IRAs require a small opening deposit of at least $10.00.
  • Substantial penalty for early withdrawal. Substantial tax penalties may apply for withdrawals before reaching the age of 59 1/2.
  • Interest is compounded daily and paid monthly.
  • Contributions may be tax deductible and supplement retirement income.**
  • To learn more, contact any of our branch representatives.

CDARS (Certificate of Deposit Account Registry Service)…A safe, convenient solution for large-deposit investors.

Until now, there were only three ways an investor could enjoy full FDIC insurance on deposits larger than 250,000: open and maintain accounts with multiple banks, invest with one bank by transferring ownership and registering accounts in the names of family members or corporate affiliates, or work through a broker-dealer.

Through CDARS, we can now place large deposits into smaller-denomination CDs at multiple institutions. This service can offer you significant benefits:

  • The safety of FDIC insurance for large deposits. Because funds are placed in FDIC-insured CDs that are issued by other financial institution Network members, your total deposits over $250,000 can be eligible for full FDIC coverage. Now you can make bank CD investments up to $1 million or more!
  • CD interest. Rates may compare favorably with those of other high-quality, fixed-income investments.
  • Interest-payment flexibility. You may choose to have interest paid monthly or at maturity.
  • Management convenience. You can manage all of your CD investments through a single relationship.
  • The security of working with a trusted, local source. Your transaction is managed by the people you know and trust here at Ledyard National Bank.
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*Usage at a non-Ledyard ATM will incur a $1.00 ATM debit item charge – except for Ledyard Plan clients – and other institutions may impose an ATM fee.

**Please consult your tax advisor

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