CDs and IRAs

Certificates of Deposit

If you are seeking a bank product that has the advantages of a savings program but offers a higher rate of interest, try an Iowa Trust & Savings Bank Certificate of Deposit.

Our Certificates of Deposit offer:

A guaranteed, competitive, fixed rate of interest and earnings
A choice of term lengths from 91 days to 3 years
Security of FDIC insurance coverage to $250,000

Because we offer a variety of term lengths and investment levels, the longer the term or the larger the investment produces a higher rate of return.

Contact one of our customer service representatives for our current CD rates.

*Full disclosure of all Certificate of Deposit requirements, services and funds availability will be made to the customer at the time of opening the account or by request.
Iowa Trust & Savings Bank has the right to refuse any deposits.

CDARS® Service

If you would like to make a large deposit that requires expanded FDIC insurance coverage, Iowa Trust & Savings Bank's CDARS Service is a smart, convenient way to safeguard your large deposits. CDARS combines the security of access to FDIC insurance above $250,000 with the convenience of working directly with just one financial institution. As part of the CDARS network of banks, Iowa Trust & Savings Bank will distribute your funds into CDs at other banks in the network. To learn more, contact an Iowa Trust & Savings Bank Customer Service Representative.

Individual Retirement Accounts

An Individual Retirement Account allows you to save for retirement by taking advantage of the tax deferred earnings and possibly annual tax deductions. This IRA will help you pay less tax now by using pre-tax dollars to build your retirement account principal. See one of our customer service representatives and have them show you our savings products that can be utilized in your IRA program. Let Iowa Trust & Savings Bank build a comfortable, secure future for your retirement years.

*Iowa Trust & Savings Bank recommends you consult your Tax Advisor before opening any Retirement Account.

IRA, Roth IRA and SEP Retirement Funds are separately insured to $250,000 by FDIC from any non-retirement funds the depositor may have at Iowa Trust & Savings Bank.

None	Traditional	Roth
Eligibility Age	You must be under age 70½ to contribute to a traditional IRA	You can contribute to a Roth IRA at any age
Income	Requires earned income and contributions can be made regardless of your income	Requires earned income and there can be income restrictions for contributions.*
Tax Advantages	Funds may grow tax-deferred	Funds may grow tax-free
Contributions	May be Tax-Deductible*	Not Tax-Deductible
Distributions	Distributions are taxed per your income bracket at the time of distribution.	Distributions can be tax-free and/or penalty-free if the account has been open for at least five years
Early Withdrawals	Unless an exception applies, withdrawals before age 59 ½ may be subject to a 10% penalty	Unless an exception applies, non-qualified withdrawals may be subject to taxation of earnings and a 10% additional tax
Required Minimum Distributions (RMDs)	RMDs starting at age 73	No RMDs during lifetime of original owner
Maximum Contribution*	Currently $6,500 ($7,500 if you are age 50 or older) or 100% of employment compensation, whichever is less	Currently $6,500 ($7,500 if you are age 50 or older) or 100% of employment compensation, whichever is less
Contribution Deadline	Generally, April 15th of the following year for any given tax year	Generally, April 15th of the following year for any given tax year

*Different factors can limit your maximum contributions and what can be deducted from your taxable income.

This chart is for informational purposes only and Iowa Trust Bank is not responsible for any errors and omissions. The information is subject to change without notice and should not be construed as a recommendation or investment advice. Please consult your tax or legal consultant for questions concerning your personal tax or financial situation.

Contact Iowa Trust