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CDs, IRAs & HSAs

Long-term savings accounts to prepare for what comes next

Home Personal CDs, IRAs & HSAs

One Future, Many Ways to Save

What are your future goals? Maybe you want to travel the world, or help contribute to a child or grandchild’s college education. Wherever your sights are set, we can help you get there.

CDs, IRAs and HSAs, each have their own uses and benefits. Take a look through each of these types of accounts, and be sure to consult with your tax advisor to see which option is best for your needs.

 

Certificates of Deposit (CDs)

If you’re looking to diversify your savings and grow your investment securely, look no further than a CD. With great guaranteed rates and a variety of terms to choose from, CDs are a solid solution for investors of all ages.

  • Minimum deposit of $5,000
  • Minimum balance of $5,000 to obtain APY
  • Terms ranging from 91 days to 6 years- choose the term that best fits your needs!
  • All CDs receive FDIC protection to the maximum legal limits

Visit a First Bank branch today to open your CD account!

Penalties may apply for early withdrawal. Rates are subject to change at any time, so be sure to check out our Current Rates page or call the branch nearest you.

 

Retirement Accounts (IRAs)

There is no better time to save for retirement than now. IRAs from First Bank offer an accessible way to save money for retirement.

  • Traditional and Roth IRAs provide different benefits, making them flexible savings tools
  • Certain tax benefits for each type of account- consult with your tax advisor to see which type of retirement account is most beneficial for your financial situation
  • Interest paid at contract rate over the life of your IRA

2016 IRA Contribution Limits

Traditional IRAs

  • Contribution Limit: $5,500
  • Age 50+ Contribution Limit (with catch-up contribution): $6,500

Roth IRAs

  • Contribution Limit: $5,500
  • Age 50+ Contribution Limit (with catch-up contribution): $6,500

Stop by any First Bank branch today to open your individual retirement account!

 

Health Savings Accounts (HSAs)

While having health insurance is a must, deductibles and out-of-pocket payments are still required in most health plans. For those with a high deductible health plan (HDHP), a health savings account is a great way to bridge the gap to your deductible.

  • Require $500 to open and must keep a $500 balance to receive the APY
  • Contributions and earnings are tax-free
  • Balances rollover from year to year

2016 Contribution Limits

Individual Plans

  • Contribution Limit: $3,350
  • Age 55+ Contribution Limit (with catch-up): $4,350

Family Plans

  • Contribution Limit: $6,750
  • Age 55+ Contribution Limit (with catch-up): $7,750

Questions? Ready to open your HSA? Stop by any First Bank branch today to get started!

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Routing #271172987

Equal Housing Lender Member FDIC  
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