Current Rates


Certificates of Deposit (CD) 

Traditional CDs are an investment that pays at a higher rate of interest for a specific term. Pine Island Bank offers a wide range of terms to meet your needs. Start your investment today with a minimum of $500.00. All CDs are FDIC insured. Early withdrawal penalty, fees could reduce earnings.


Special CDs

24 Month Step Up Certificate of Deposit

Our 24-month Step-Up CD is designed to help you out when rates are increasing. It gives you the opportunity to increase your rate one time during the term of the CD. Once you increase your rate, you will earn the new higher rate of interest on the balance in your CD until it matures. 

  • $2500 minimum deposit to open
  • Interest compounded quarterly
  • You may make one deposit during the term of no more than the original investment amount or the value of the certificate of deposit on the renewal date
  • You may request a rate exchange without depositing additional funds

36 Month Triple Play Certificate of Deposit

During the 36-Month term, you may make up to 3 deposits in increments of at least $2500 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 interest rates or want to combine several CDs that mature at different times.

  • $2500 minimum deposit to open
  • Interest compounded quarterly
  • No more than three deposits each term, one per year, of at least $2500 each. The maximum amount of the three deposits combined cannot be more than the original investment amount or the value of the certificate of deposit on the renewal date

Young Savers Certificate of Deposit

Uniform Transfer to Minors Act (UTMA) allows an adult to give money to a minor without having a complicated trust agreement. These funds can be deposited into our Young Savers Certificate under the child's name and social security number. 

  • $300 minimum deposit to open
  • Interest compounded quarterly
  • One or two deposits of at least $150.00 within a 12 month period


Individual Retirement Arrangements (IRAs)

With Pine Island Bank's IRAs, your retirement funds are safe and FDIC insured up to $250,000. Early withdrawal penalty, fees could reduce earnings.
Traditional IRA

The Traditional IRA is an account that allows you to defer taxes on the earnings on your contributions until they are withdrawn. Certain contributions are tax deductible in the tax year for which they are made. 

  • $100 minimum deposit to open
  • Interest compounded quarterly
  • No monthly or annual fees

Roth IRA

The Roth IRA allows only nondeductible contributions and features tax-free withdrawals for certain distribution reasons after a five-year holding period. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, people who expect to be in a higher tax bracket when they retire may benefit more from a Roth than from a Traditional IRA.

  • $100 minimum deposit to open
  • Interest compounded quarterly
  • No monthly or annual fees

Please log on to the Internal Revenue Service (IRS)  website for the most recently updated contribution limits.

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