Kennebec Savings Bank offers a variety of certificates of deposit, with terms from six months to seven years, and a minimum deposit of only $1,000. This gives you the flexibility to choose the term that best meets your financial needs, whether your priorities are liquidity with a higher rate of return than offered on savings accounts (a short-term certificate of deposit with a term of one year or less is probably best for you) or savings for future needs like college tuitions or retirement (in which case, a longer-term account may suit you better).

Interest rates paid on certificates of deposit vary based on the length of the term, and are fixed for the term of your account (refer to the Bank's deposit rate sheet for currently applicable interest rates on certificates of deposit). Interest is compounded daily and paid monthly. Interest can be paid in one of three ways:

• Added to the certificate;
• Sent to you monthly by check; or
• Automatically transferred to another account at Kennebec Savings Bank.

Once your certificate is established, no additional deposits can be made to the account except at maturity, although you can open another certificate any time you want.

There is a penalty for withdrawing your funds prior to the certificate's maturity; we recommend that you discuss your needs with our customer service representatives when you establish the account so that you can be sure to select the best term for you.

When your certificate matures, the Bank will notify you in advance. Your certificate will automatically renew for the same term (at the current interest rate for that term) at maturity unless you notify us. Otherwise, you have up to seven days after maturity to give us instructions on what you wish to do with your funds. Our customer service representatives can advise you at that time of the various investment options available to you.