Certificates of Deposit

The First National Bank of Orwell offers two types of certificates of deposit: Single Maturity and Automatic Renewal Certificates.

The Single Maturity Certificate is issued for a specified period of time (between 6 months and 2 years) or any number of days within those periods. On its maturity date, the Single Maturity Certificate ceases to earn interest and is held awaiting instructions from the holder(s). In this form, there is the danger of a deposit remaining idle, not earning interest, while awaiting instructions from the depositor.

The Automatic Renewal Certificate is written for the same periods, using the same interest rates but when maturity date passes, it is automatically re-activated at the prevailing interest rate for a new term as stated in the original certificate.

Interest Rates and Yields



6 Months – 364 Days


12 – 17 Months


18 – 23 Months


24 Months


Interest rates, annual percentage rates (APRs), and annual percentage yields (APYs) are current as of 9/14/2023, and may be subject to change without notice. Call for current rates. Minimum deposit for CDs and IRAs is $500. Penalties may apply for early withdrawal. Earnings on IRAs may be reduced by fees (if applicable).

* The Annual Percentage Yield assumes that interest earned is left on deposit with the balance to effect compounding of interest.

Interest Payment Options and Withdrawals

Interest payout options are check to holder, automatic transfer to another Orwell account, or Compounding.

Interest posted to the principal balance may be withdrawn at any time without penalty. Any interest payments will be issued in a check made payable to the holder of the certificate.

Principal Withdrawals

Principal amounts, either the full or partial balance, may be withdrawn with an interest forfeiture of up to 90 days interest on the amount withdrawn. If the certificate has been in force for less than 90 days, the interest accrued and posted on the amount withdrawn will be forfeit.