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IRA Savings & CDs
Save for the Future
Lock in your earnings when you commit to keeping your funds with Frandsen Bank.
Certificate of Deposit
Earns fixed interest rate
Terms from 3 to 60 months
$2,500 minimum opening balance
Early withdrawal penalty may apply
Individual Retirement Account
Open a Traditional or Roth IRA
$100 minimum opening balance for an IRA Savings account
$2,500 minimum opening balance for IRA Certificates of Deposit
Plan fees and early withdrawal penalties may apply
Take Charge of Your Finances
Credit Cards
Whether you want to pay down balances faster, maximize cash back, earn rewards or begin building your credit history, we have a card for you.
Frequently Asked Savings Questions
Whether you’re just starting to save or looking for ways to grow your nest egg, CDs and IRAs can help you reach your long-term goals. Here are answers to some common questions to help you feel confident planning ahead.
What is an IRA Savings Account?
An IRA (Individual Retirement Account) Savings Account is a tax-advantaged account designed to help you save for retirement. Frandsen offers both Traditional and Roth IRA options.
What’s the difference between a Traditional IRA and a Roth IRA?
Traditional Individual Retirement Accounts (IRAs) may offer tax-deductible contributions and grow tax-deferred, while Roth IRAs feature after-tax contributions with tax-free withdrawals in retirement (subject to IRS rules).
Can I withdraw money from a CD before it matures?
Early withdrawals may be subject to a penalty. CDs are available in varying term lengths so you can find one that matches your financial goals and avoids early withdrawal fees.
What is a Certificate of Deposit (CD)?
A CD is a savings product that holds a fixed amount of money for a fixed period, earning interest at a set rate. Once the term ends, you can withdraw your funds and the interest earned.
Important Legal Disclosures & Information
When premium interest rate conditions are met and your daily available balance is $10,000 or less, the Annual Percentage Yield (APY) is 6.17%.
When premium interest rate conditions are met and your daily available balance is over $10,000, the APY will range from 0.01 - 6.17%, depending on the balance in the account.
When premium interest rate conditions are not met, the APY is 0.01% on the entire daily available balance.
Rates effective as of Jan. 1, 2026. Rates are subject to change without notice at any time at the discretion of Frandsen Bank & Trust.
Fees may reduce earnings.
APY = Annual percentage yield
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