CDs and IRAs

Certificates of Deposit

Monroe Savings Bank offers many types of Certificates of Deposit with various terms and deposit requirements.

 Term Deposit Requirements


Minimum Balance

91 Day


6 Month


1 Year


15 Month


18 Month


21 Month


2 Year


3 Year


4 Year


5 Year


10 Year


Additional Information

  • The interest rate for your account will be paid until the maturity day of your certificate.
  • The account will automatically renew at maturity.
  • You will have ten (10) calendar days from the maturity date to withdraw your funds without being charged a penalty.
  • No additional deposits or withdrawals are allowed other than earnings from this account until the maturity date.
  • If any of the deposit is withdrawn before the maturity date, a penalty will be imposed which could result in partial loss of principal.

Opening an Account

Monroe Savings Bank is now accepting out of state deposits for certificates. Simply go to the home page and on the left margin select Open New Personal Accounts 

  • Applicants MUST still supply Monroe Savings Bank with the following criteria:
    • Copy of valid Driver’s License for each applicant
    • Signed signature card that is generated when you open your account.
    • Your initial deposit payable to Monroe Savings Bank
    • All Certificates will not be forwarded until ALL information needed to open a Certificate is received.

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Individual Retirement Accounts (IRA)

With a Monroe Savings Bank IRA, you can begin to build a more secure future.

We offer a variety of investment options that offer safety, income and growth potential. Ask about the traditional, Roth and Education IRA's at Monroe Savings Bank.


Contributions to a Roth IRA are not deductible, but funds that are distributed in a "qualified distribution" are both tax-free and penalty-free. A Roth IRA is subject to the traditional IRA rules with some exceptions.

Education IRA

An Education IRA is a savings plan for paying higher education expenses of the designated beneficiary. Distribution for qualified higher education expenses are generally tax-free.

Invest with Monroe Savings today and have the confidence in knowing you have invested with a bank that has years of experience in investment management and customer service.

You have many choices. Visit any of our offices and talk with us about your plans for the future.

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