Gorham Savings Bank
A Breath of Fresh Banking
For as little as $500, you can earn a competitive rate of return on your money with a CD or IRA from Gorham Savings Bank.
• BankingBenefitsSM Products offer premium rates. Contact us to see how you may qualify.
• A variety of CD/IRA terms
• Traditional IRAs, Roth IRAs and Educational IRAsHassle Free CD:
An 18 month certificate. No Bank Penalty for early closure during initial term*
*Early Withdrawal Penalty: If any of the principal is withdrawn before the maturity date, federal law may require that a penalty be imposed equal to at least seven (7) days' simple interest. However, there are certain circumstances where the Bank is permitted to waive this penalty.
Gorham Savings Bank is a true community bank. We generally do not accept deposits beyond the State of Maine.
CDARSSM. The most convenient way to enjoy full FDIC coverage on deposits of up to 50 million.
Gorham Savings Bank customers can now place large deposits through a single bank relationship into CDs among multiple Network institutions and be eligible for full FDIC insurance.
The benefits of CDARSSM (Certificate of Deposit Account Registry ServiceSM)
- One Bank. Everything is handled through Gorham Savings Bank. If you have previously kept balances in multiple banks, this will significantly simplify your life.
- One Rate. With CDARSSM, there is no need to negotiate multiple rates or manually tally disbursements for each CD.
- One Statement. You receive one regular statement listing all of your CDs, along with their issuing banks, maturity dates, interest earned, and other details.
- No Hidden Fees. You will not be charged annual fees, subscription fees, or transaction fees for using the CDARSSM service.
Want to find more information on CDARSSM? Click here for a video. Or contact our Customer Service Center: (207) 839-4796
Calculate the insurance coverage for your accounts with this FDIC website calculator.