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Home / Personal / IRAs / Roth Deposit IRA

Roth Deposit IRA

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A certificate of deposit Roth IRA provides safety and security for your retirement savings.
Your contributions are made with after-tax dollars but you are rewarded at retirement with tax-free* withdrawals.

Open a Roth IRA with First State Bank, your hometown bank in Macomb County, Michigan. Roth IRAs provide an excellent, tax-free way to save for your retirement.

  • Contributions are made with after-tax dollars
  • Earnings grow tax-free*
  • Contributions (not earnings) can be withdrawn at any time
  • Tax-free distribution at retirement*
  • Income requirements govern eligibility
  • Leave your money in as long as you want (no minimum distributions)
  • Safe, solid deposit account that can preserve and grow funds at a guaranteed rate of return
  • Choose between fixed rate options and a variable rate option, which allows for ongoing contributions
  • Provide tax diversity to your retirement funds invested in traditional IRAs or 401(k)s

Contribution Limits

Year Age 49 and below Age 50 and over
2014 $5,500 $6,500
2015 $5,500 $6,500

Current Rates

Variable Rate Certificate of Deposit


Interest Rate APY~
Variable Rate CD .25% .25%

Minimum to open: $100

Fixed Rate Certificate of Deposits

  $1,000 $10,000 $25,000 $50,000 $75,000
Rate APY~ Rate APY~ Rate APY~ Rate APY~ Rate APY~
30 Day .05%  .05%  .05%  .05%  .05%  .05%  .05%  .05%  .05%  .05% 
91 Day .10%  .10%  .10%  .10%  .10%
.10%  .10%  .10%  .15%  .15% 
6 Mth .15%  .15%  .15%  .15%  .15%  .15%
.20%  .20%  .40%  .40% 
12 Mth .20%  .20%  .20%  .20%  .30%  .30%  .30% .30%  .40%  .40% 
18 Mth .25% .25%  .30%  .30%  .30%  .30%  .30%  .30%  .50%  .50% 
24 Mth .35%  .35%  .40%  .40%  .40%  .40%  .50%  .50%  .50%  .50% 
30 Mth .35%  .35%  .35%  .35%  .40%  .40%  .50%  .50%  .50%  .50% 
36 Mth .40%  .40%  .50%  .50%  .70%  .70%  .90%  .90%  1.00%  1.00% 
48 Mth .60%  .60%  .75%  .75%  .90%  .90%  1.20%  1.21%  1.20%  1.21% 
60 Mth .80%  .80%  1.00%  1.00%  1.20%  1.21%  1.30%  1.31%  1.40%  1.41% 

Minimum to open: $100
IRA transfer fee: $30

Call or stop by one of our branches and speak to one of our Branch Officers to find out which IRA is right for you.

Withdrawals made before the maturity date may result in a substantial penalty.
*If withdrawn after age 59 ½ and the account has been open for 5 years or more (begins with tax year of the first contribution).
~ This account earns interest either at a fixed or variable rate depending upon the product. Annual Percentage Yield is accurate as of December 20, 2014. These rates may change at any time without prior notice. Fees could reduce earnings on the account.

Equal Housing LenderMember FDIC