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Zelle®

Zelle® is a great way to send money to friends and family, even if they bank somewhere different than you do.1 That means it’s super easy to pitch in or get paid back for all sorts of things like coffee for your coworkers or dinner with friends.

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CDs & IRAs

Planning for your future is important. At Iowa State Bank we offer many products and services to help you prepare for every stage of life. Let us help you do more with your money.

CDs

Iowa State Bank is currently offering a 4.05% APY* special for 7 months; a 3.90% APY* special for 11 months, OR a 3.75% APY* special for 17 months. To take advantage of these special rates please speak to a banker for more details. 

*The information above is accurate as of Wednesday, April 2nd, 2025. Interest Rates may change after an account is opened and these rates will be posted as of their effective date. Maintenance and / or activity fees may reduce earnings. APY = Annual Percentage Yield. The Annual Percentage Yield (APY) assumes interest remains on deposit until maturity. A withdrawal of interest or any withdrawal may reduce earnings and a penalty may be applied on some accounts for early withdrawals. A $5,000 minimum balance is required to open CD. Interest Rates subject to change daily.

Our Certificate of Deposit savings solution offers competitive interest rates with flexible term options to protect your investment. CDs are FDIC insured and will give you a guaranteed return without risking your savings.

  • $1,000 minimum opening deposit
  • Available terms from 3 months to 5 years
  • Interest is compounded annually or at maturity
  • Interest can be deposited into an account monthly or quarterly
  • Early withdrawal will result in a penalty

IRAs

Individual Retirement Accounts provide a way for you to make a tax-deferred or tax-free* investment for your retirement. If you are interested in saving for your long-term future, we have two IRA products that can help. Stop in to any ISB branch to learn more and determine which product is best for you!

Traditional IRA

A great option for someone who expects to be in the same or lower tax bracket when they start taking withdrawals.

Contributions
Your contributions could qualify for a tax deduction*

The most you can contribute to all your traditional IRA(s) is the smaller of $7000 if under age 50 or $8000 if you are age 50 or older by the end of the year, or your taxable compensation for the year, if your compensation was less than this dollar limit

Contributions for the previous year may be made up until April 15th of the current year

Distributions

You must start taking a required minimum distribution (RMD) in the year you turn 73, however, you have the option to complete your first RMD by April 1 of the year following the year you turn 73. If you do this, you’ll need to take two distributions in the same tax year:

  • Complete your first RMD by April 1
  • Complete second RMD by December 31

You can withdraw at any time

Any deductible contributions and earnings you withdraw or that are distributed from your traditional IRA are taxable:

If you are under age 59 ½ you may be subject to an additional 10% tax for early withdrawals unless you qualify for an exception*

Roth IRA

The right solution for someone who expects to be in a higher tax bracket when they start taking withdrawals.

Contributions
Your contributions are not deductible

The most you can contribute to all of your traditional IRA is the smaller of:
$7,000 or $8,000 if you are age 50 or older by the end of the year or your taxable compensation for the year, if your compensation was less than this dollar limit

Contributions for the previous year may be made up until April 15th of the current year

Distributions
You are not required to take a minimum distribution if you are the original owner

You can withdraw at any time

Your withdrawals are not taxable if it’s a qualified distribution:

Part of the distribution or withdrawal may be taxable:

If you are under age 59 ½, you may also have to pay an additional 10% tax for early withdrawals unless you qualify for an exception*

*Conditions may need to be met to qualify for tax incentives.

*Exceptions apply for tax deductible withdrawals.

Learn more on how your IRA could affect your taxes.