We care about your financial future and are dedicated to helping you reach your financial goals. An IRA is a personal, tax-deferred or tax-free investment plan designed to help you save for retirement. Start saving today and make those golden years a little more golden. The sooner you begin, the greater the benefit! We offer three IRA Certificate of Deposit options to fit your needs and lifestyle:
- Traditional IRA
- SEP IRA
- ROTH IRA
Regarding IRAs; First State Bank Shannon-Polo-Lake Carroll can assist you with any 401K Rollovers or IRA Transfers. Schedule time with a customer service representative to learn about the types of IRAs we offer and what will work best for your retirement plan.
Rate Information: Please contact the bank for current rates. The interest rate is determined by the term of the account.
Minimum deposit to open the account for Certificates of Deposit: $1,000.00
Minimum deposit to open the account for all IRA Certificates of Deposit: no minimum
Transaction limitations: You may not make any deposits into your account before maturity (except for an IRA; terms of 12, 15 and 18 months).
Early withdrawal penalty: A penalty may be imposed for early withdrawal from CDs, IRAs and Christmas Club Accounts. Additional information is provided in our disclosures at account opening or upon request.
Exceptions: Federal Regulations permit, or in some cases require the waiver of the early withdrawal penalty if:
(1) any account owner dies or is declared incompetent, or
(2) this is an IRA account and you are at least 59 1/2 years of age or disabled at the time of the withdrawal request, or
(3) this is an IRA account and the request for withdrawal is made within seven days of establishing the account. (The penalty in such case will be all interest earned of the amount withdrawn.)
IRA transfer fee (per transfer): $35.00
This only applies for requests to transfer to another financial institution.