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CD IRA
Certificates of Deposit and Individual Retirement Accounts are two popular ways we offer to invest your money. Your deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor, per insured bank, for each account ownership category. To learn more about the FDIC, visit them online at: www.fdic.gov.
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
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
- 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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