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Savings Accounts, CDs & IRAs

Open Multiple Savings Accounts and Save for Your Goals and Life's Unexpected Costs

The ability to save money is a skill that can serve you well your entire life. You have goals for your life and your family, and being able to watch your money grow and to reach your goals is part of a sound financial plan. Putnam Bank, a division of Centreville Bank offers many ways to help you save for your goals, as well as life's unexpected costs, with a variety of savings accounts, including certificates of deposit (CDs) and individual retirement accounts (IRAs). Use an automated savings plan and watch your funds grow faster.

Screen Reader Friendly - Personal Savings Account Options

Account TypeStatement SavingsClub Savings6Prestige Money Market StatementSuccess SaverStudent SaverIRA Statement Savings AccountCertificate of Deposit3IRA CD3
Account DescriptionSave easily and have 24-hour access with a Debit Card and Online Banking.Designed to help save for the holidays or vacation with no minimum balance or fees.Tiered interest earns higher rates on larger balances. You also get the benefit of check writing privileges, online banking and debit cards.The Success Saver works together with Success Checking.Designed to teach students under 18 years savings and money management skills with no minimum balance or fees.An easy way to plan for your retirement. Build your nest egg safely a little bit at a time in amounts you can afford.Choose from short or longer term CDs that work best for your financial planning needs at competitive fixed rates. 91 Day to 5 Year terms available.Fixed rate and term retirement certificates offer competitive rates on terms from 6 months to 5 years. Traditional and ROTH IRAs available.
Minimum to Open$20.00$5.00$1,000.00$20.00$5.00$50.00$500.00 - $1,000.00$250.00 - $1,000.00
Minimum Balance (to avoid monthly fee)$200.00None$1,000.00NoneNoneNoneNoneNone
Monthly Fee (if below minimum)$2.001None$12.00NoneNoneNoneNoneNone
Interest Rate Information2VariableVariableVariable - TieredVariable - Tiered4VariableVariableFixedFixed
Minimum to Earn Interest$50.00None$1,000.00NoneNone$50.00$500.00 - $1,000.00$250.00 - $1,000.00
Additional InformationTransaction limitations apply. Fees may reduce earnings.Clubs mature in April (vacation) and October (holiday). Withdrawals prior to maturity will close account.Transaction limitations apply. Fees apply for each transaction over the limit.Transaction limitations apply. Must be linked to a Success Checking Plus Account.4Must be opened jointly with parent or guardian. Transaction limitations apply.Transaction limitations apply. Terms and conditions apply.3-year CD offers onetime rate increase during term. 18 month CD allows deposits (minimum $500) during term. Transaction limitations apply. Time requirements apply.You may make additional deposits5 into your account. For 18 month, 2, 3, 4 and 5 year terms we require a minimum deposit of $100.00. Time requirements apply.

Withdrawals will reduce earnings.1The $2.00 monthly maintenance fee will be waived if any of the following conditions are met, a) the account has a monthly direct deposit;  b) the account owners are under the age of 18 or over the age of 62 years. 2Your interest rate and Annual Percentage Yield (APY) is subject to change. 3Certificate of Deposit Accounts are subject to early withdrawal penalties. See our Schedule of Fees for other fees. Other restrictions and account terms may apply. 4Annual Percentage Yield (APY) is subject to Account qualification requirements of linked Success Checking Account. 5Annual contribution limits may apply.6At maturity, the club balance will be direct deposited into your Putnam Bank checking or savings account.

Start your savings account please visit one of our convenient Putnam Bank, a division of Centreville Bank offices or contact us today.

FDIC Coverage Limits »

CDs and IRAs*

CDs are a secure way to grow your money over a longer period of time. Offering FDIC coverage (Coverage Limits Apply), they allow you to keep your money safe while it grows over time. Terms for Putnam Bank, a division of Centreville Bank™s traditional CDs range from 91 days up to five years and come with competitive interest rates.

IRAs at Putnam Bank, a division of Centreville Bank come in a variety of options that can be tailored to your financial needs. We offer several IRA plan types, the Traditional & ROTH IRAs as well as, SEP, SIMPLE and Coverdell (formerly Education IRA). Contact our customer service team for assistance with transferring or rolling over your IRA.


This IRA option allows you to consolidate all of the contributions you make to your IRA in a single certificate of deposit. Not only does this increase the balance of that CD, helping you earn higher interest on your contributions, but it also means less paperwork than opening a new CD for every contribution to your IRA, like most banks do. You can continue making contributions of $100 or more to your IRA CD up to the maximum contribution year limit by setting up automatic transfers.

IRA Statement Savings Account**

Save for your retirement at your own pace. Open this IRA account with just $50 and make automatic transfers in a set amount that fits your budget. As your balance grows and more interest accrues, you can adjust your contributions to reach your retirement goal. In November 2018, the IRS announced a Cost-of-Living Adjustment for 2019 relating to retirement plans. 2019 IRA Contribution Limit is $6,000. Plus IRA owners ages 50+ are eligible for $1,000 catch-up contribution.

We would be pleased to answer your questions or provide more information on our CD and IRA options. Please visit one of our convenient Putnam Bank, a division of Centreville Bank offices or contact us today. Check out our deposit rates.

* Early withdrawal penalties and time requirements apply.

* * Transfers from an IRA Statement Savings Account to another account or to third parties by preauthorized, automatic, computer, or telephone transfer are limited to six per month, with no transfers by check, debit card, or similar order to third parties.