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CDs and IRAs

If you are looking for a great way to invest your money that is safe and secure, then a Certificate of Deposit is an excellent tool that has earning power. Or, maybe you are are ready to start planning for your retirement. Farmers State Bank offers several different types of IRAs. The terms and requirements of IRAs can be very complicated, but our Customer Service Representatives are here to help you sort out the details.
Certificate of Deposits
  • Minimum Deposit to Open: $1,000.00
  • Flexible Terms Available: 6 Month to 24 Month Fixed Rate, 24 Month Adjustable Rate, 6 Month & 24 Month Add-on accounts
  • Flexible Interest Payment Plans
  • Automatic Renewal
  • Book Entry/Signature Card (no certificate for safekeeping)
Certificate of Deposit Details
Traditional IRA
  • Minimum Deposit to Open: $500.00
  • No minimum age requirements.
  • Eligible contributions are tax deductible!
  • Mandatory distributions are required beginning at age 70.
  • Flexible Terms Available: 3 Month to 24 Month Fixed Rate, 18 Month Variable Rate
Traditional IRA Details
ROTH IRA
  • Minimum Deposit to Open: $500.00
  • Income on the ROTH IRA is tax free*! 
  • Mandatory distributions are not required at age 70.
  • Access to your principal at any time without IRS penalty.
  • Limits on Earned Income apply.
  • Flexible Terms Available 
Roth IRA Details
Self-Employed Person  IRA
(SEP)
  • Minimum Deposit to Open: $500.00
  • Eligible Employer contributions to the SEP IRA are tax deductible!
  • Salary Deductions to the SEP IRA allow employees to contribute to their retirement accounts.
  • Limits on W-2 Income apply.
  • Mandatory distributions are required at age 70.
  • Flexible Terms Available: 3 Month to 24 Month Fixed Rate, 18 Month Variable Rate
Self-Employed IRA Details
Coverdell Education Savings Account (CESA)
  • Minimum Deposit to Open: $500.00
  • No minimum age requirements
  • Limits on Income apply.
  • Eligible Earnings on contributions to the CESA accumulate tax free if used for a qualified educational expense for any level of education!
  • Eligible Distributions from the CESA are tax free if used for qualified expenses for primary, secondary or college expenses!
  • Flexible Terms Available
Coverdell Education Savings Account Details