Skip to main content Download Acrobat Reader 5.0 or higher to view PDF files.
Peoples Bank

Online Banking Login

CDs & IRAs

When you want your money to work hard for you, a traditional checking or savings account may not provide the return you desire. Certificates of Deposit (CDs) and Individual Retirement Accounts (IRAs) are a safe way to get the most out of your money. Want to learn more about opening a CD or IRA at Peoples Bank? Contact us today or visit one of our locations to get started!

Certificates of Deposit (CDs)

CDs provide a simple, safe way to build your savings. In exchange for a higher level of interest than traditional checking and savings accounts, CDs hold onto your funds for a specified length of time. We offer CDs with terms varying from 3 to 60 months. Peoples Bank also offers a special Rate Riser CD that allows you to raise the interest rate on your CD one time during each term of the CD. You can learn about how to build a CD ladder to maximize your CD strategy. 

Individual Retirement Accounts (IRAs)

Whether retirement is years away or just around the corner, we have options to help you save. We offer IRAs with an 18-month variable interest rate CD or a 60-month fixed rate CD. These products provide a way to save for the future and may provide you with a tax advantage.

How is a CD different from a money market or IRA account?

When you invest in a CD, you agree to leave your money in the account for a specified amount of time. Any withdrawals before the term expires, and you’ll incur penalties. Money market accounts typically offer a lower rate of interest than CDs, but your funds remain liquid and you can access them as needed without penalty. An IRA is a retirement account that features tax benefits. In order to avoid penalties, you should plan to leave money in an IRA untouched until retirement age.

What are some common uses for CDs?

CDs are a low risk, short-term investment. Whether you’re saving for a car or vacation, a CD can provide you with a higher interest rate to help your savings grow.

How do you choose the right term for a CD?

Typically, a longer CD term offers a higher interest rate. You’ll want to choose a term that fits your needs. Do you need access to your funds in the next three months? What about the next five years? Only you can judge how long you want to set that money aside.

What are the tax advantages of having an IRA account?

There are two types of IRAs, each with distinct tax benefits. A Traditional IRA allows you to contribute untaxed income and defers the tax until you withdrawal funds in retirement. A ROTH IRA taxes your funds at the time of contribution, and you get to withdrawal them tax-free in retirement. At Peoples Bank, we pride ourselves on taking the time to help you choose the best retirement options for your financial situation.

Please consult your tax advisor to determine your eligibility on any of the above statements.
Partnering with Peoples Bank

As your community bank, Peoples Bank offers products specially tailored to our community. We’re dedicated to listening to our customers and giving back to our communities. Our friendly associates make every effort to be a resource where customers can learn about financial products and services. We always take time to find the best banking solutions for you. Stop by or call us today! Peoples Bank offers ten convenient locations in Northwest Iowa, Southwest Minnesota, and Southeast South Dakota. We look forward to finding the right savings product for your needs and goals.

Related Blogs

Check out articles from our blog to learn how to prepare for your financial future!

Two women going over something on a tablet

Ready to Switch?

Ready to bank with us? We have made the transition process quick and easy!


Woman driving a car

Personal Loans

We offer a wide selection of personal consumer loans.