Online Banking

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CDs and IRAs

Certificates of Deposit (CDs)

  • Fixed rates, higher than regular savings account
  • Receive higher rates by selecting a longer term
  • Interest may be added back to the Certificate or deposited into another account at Farmers Bank
  • Provides more guarantee than other risky investments
  • Set aside for future savings goals
  • A wide range of terms available
  • No setup or maintenance fees
  • Early withdrawals subject to penalty
  • $2,500 minimum deposit to open


Individual Retirement Accounts (IRAs)

  • Competitive interest above standard savings rates
  • Traditional and Roth IRA Options
  • No setup fees
  • No monthly or annual maintenance fees
  • Annual contribution limits apply (see current contribution limits; $6,000 as of 2020)1
  • Additional $1,000 “catch-up” contribution allowed for ages 50+
  • Funds can be used to purchase CDs within IRA
  • $2,500 minimum deposit to open

1Consult a tax advisor.

*Call for current rates.