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CDs & IRAs

Home For You CDs & IRAs

Start Saving Smarter

Whether you’d like to grow your savings faster with a better interest rate or you want to start saving for retirement, First State can provide you with the right solutions.

A certificate of deposit (CD) or Individual Retirement Account (IRA) can help you start saving smarter so you can live the way you want in the future.

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CDs

Available in terms from 1 month to 5 years, CDs offer a better interest rate for your money compared to traditional savings accounts. Here’s what you need to know about CDs at First State:

  • Earn a fixed interest rate on savings for designated term
  • Minimum opening balance requirements of $500, $5,000 or $50,000, depending on term of deposit
  • No monthly service charges
  • Accessible in online banking
  • Protected by FDIC insurance up to $250,000 per individual
  • Withdrawal of funds prior to maturity may be subject to penalty

 

CD Specials

  • 22-Month Step Up CD
    2.75% APY
    $10,000 minimum deposit.  If the 22-month CD interest rate increases, you have the option of upgrading to the higher rate one time for the remainder of the term.
  • 11-Month CD
    2.25%
    $10,000 minimum depsoit.

 

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IRAs

  • Traditional IRA: contributions are tax-deductible. After retirement, withdrawals from the account are taxed by the IRS as income.
  • Roth IRA: Contributions are not tax-deductible, but distributions are tax free. Once you retire, withdrawals are not subject to income tax.
  • Simple IRA: For small businesses or self-employed individuals, employees can make contributions and employers are required to make contributions. All contributions are tax-deductible.
  • Single Employee Pension (SEP) IRA: Only employers can make contributions, which can be deducted from reported business income to potentially lower your business’s tax rate. Employee withdrawals from the account are taxed as income by the IRS.
ProductCertificate of DepositsIRA Accounts
DescriptionEarn a fixed interest rate on your savings with a designated term

Saving for retirement? We offer Traditional, Simple, Roth, and SEP IRAS

Minimum Opening Deposit

$500
$5,000
$50,000

$100.00

Monthly Service Charge

None

None

Interest Bearing

Yes

Yes

Transaction Restrictions

Withdrawals prior to maturity may be subject to penalty.

Withdrawals prior to maturity may be subject to penalty.

Benefits
Online Banking

Yes

Yes

 

Please consult your tax advisor before choosing an IRA account or with tax-related questions.

Open your CD and IRA Today

Stop in at any location to learn more about either of these accounts and open one today.


CD & IRA Rates

Variable Rate IRA**

Minimum Available Balance RequirementInterest RateAPY*Minimum Deposit to Open Account
No minimum balance requirement0.40%

0.40%

$100.00

 

CD Rates

CD TermInterest RateAPY*Interest RateAPY*Interest RateAPY*
 Minimum $500$5,000 & Above$50,000 & Above
1 Month-

-

--0.10%0.10%
2 Months----0.10%0.10%
3 Months0.05%0.05%0.50%0.50%--
6 Months0.05%0.05%0.80%0.80%--
12 Months0.05%0.05%1.39%1.40%--
18 months0.30%0.30%1.49%1.50%--
24 Month0.35%0.35%1.59%1.60%--
30 Months0.35%0.35%1.64%1.65%--
36 Months0.35%0.35%2.48%2.50%--
48 Months0.75%0.75%2.68%2.70%--
60 Months0.75%0.75%2.78%2.80%--

 

*APY = Annual Percentage Yield

**A penalty will or may be imposed for early withdrawal.