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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

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 of your traditional IRA is the smaller of:
$6,500 or $7,500 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 15^th of the current year

Distributions
You must start taking a required minimum distribution by April 1 following the year you turn 73 and by December 31^st of later years

You can withdrawal 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

Contributions for the previous year may be made up until April 15^th 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.

Home Equity Opportunities

Business Credit Cards

CDs & IRAs

CDs

IRAs

Traditional IRA

Roth IRA