Certificates of Deposit and IRA's

Certificates of Deposit

Certificates of Deposit are the easiest and safest way to save if you do not have an immediate need for excess funds. The rate is guaranteed for a specific period of time, and generally the longer the term, the higher the interest rate earned. You can choose to withdraw your interest, transfer your interest monthly to another Rio Bank account, or leave it in the account and allow the interest to compound.

Here are the benefits of our CD's:

  • Competitive rates
  • You pick your maturity date: 1 year to 5 year terms
  • Low minimum deposit of $2,500
  • Interest rate fixed for term of the Certificate
  • Interest compounded quarterly
  • Interest can be withdrawn or transferred to another Rio Bank account with no penalty, or remain in the account to compound
All Deposits are FDIC insured up to at least $250,000.00.

Triple Option Certificate of Deposit "COD"

  • Eligibility: Personal and Sole Proprietor customers (not available for IRA or Business Customers)
  • Minimum to Open: $10,000
  • Maximum Investment: $250,000
  • COD Term: 3 Year Certificate of Deposit  


  • Add to COD: May add in increments of $1,000 up to 200% of the original opening deposit of the Certificate of Deposit.
  • Rate: The interest rate for your account will not change until maturity.  You may change the rate one time to our current Triple Option rate by contacting us.  Maturity date will be extended 3 years from date of change.
  • Medical Expense: May withdraw up to ½ of the original deposit in increments of $1,000 for medical expenses with no early withdrawal penalty
  • Interest Rate: Is calculated on the daily balance and will begin to accrue on the business day you make your deposit. The Annual Percentage Yield (APY) is assuming that the interest will remain in the account until maturity. A withdrawal will reduce earnings. An early withdrawal penalty may be imposed.
  • Early Withdrawal Penalty: $25.00 plus 1% of the current value amount. Penalty not applicable for withdrawal for medical reasons.
  • Compounding and Crediting: Frequency — Interest will be compounded quarterly.

Visit any of Rio Bank’s convenient locations to open this account today.

IRA's Individual Retirement Accounts

IRAs are offered to individuals with a range of terms at competitive fixed interest rates. To open an IRA the minimum is $1,000. These accounts are a great way to earn tax-deferred interest for your retirement years.  For more information, please visit with one of our Rio Bank locations nearest you.