Farmers State Bank Personal Banking

CD & IRA

Certificate of Deposit

Several terms and minimum balances available. Contact customer service for rates.

IRA SuperSaver Account Benefits

  • Earns the current 36 month CD rate or higher
  • You can add to account at any time
  • No bank penalty for early withdrawal
  • No annual fee

Traditional IRA

Any individual under 70 1/2 years of age who has earned income may establish an IRA, and can also rollover proceeds from a pension plan payout to an IRA. There are many deciding factors in determining the dollar and age limits for this kind of account.

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Roth IRA

Contributions to this account are made with after-tax dollars. That is, there is no tax deduction up front for the contribution. The earnings realized by the Roth IRA are not presently taxed, and if certain distribution rules are met, will never be taxed.

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Coverdell Education Savings Accounts

This is a new type of tax-preferred savings and investment account to encourage taxpayers to save for future education expenses.

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