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CD IRA
Certificates of Deposit and Individual Retirement Accounts are two popular ways we offer to invest your money. Both are FDIC insured.
A CD is an investment for a specific term with a set yield. You can select the term that works the best for you. You are allowed a 10 day grace period to change your CD or to withdraw your money after the maturity date without penalty.
- $500.00 minimum balance to open
- Terms ranging from 30 days to 4 years
- Interest can be paid to the certificate of deposit account, deposited to a First State Bank checking or savings account, or an interest check can be mailed to you
- FDIC insured up to $100,000.00
At First State Bank you can invest your funds for the future with our Traditional, Roth, or Education IRA.
- No minimum balance to open
- May add to at any time with our savings IRA
- Variable rate adjusted quarterly
- IRA CD’s compound quarterly
- Fully insured by FDIC
- Deductible contributions
- Tax-deferred growth of earnings
- Maximum annual contribution of up to $2,000 or 100% of compensation, whichever is less
- No contributions after age 70 ½
- Distributions must begin at age 70 ½
- Non-deductible, after-tax contributions
- Tax-free earnings and distributions
- Maximum annual contribution of up to $2,000 or 100% of compensation, whichever is less
- Contributions permitted after age 70 ½
- Distributions not required after age 70 ½
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