Our Fixed Rate IRA is determined by market conditions and length of term. IRA deposits can be invested in any fixed rate Certificate of Deposit that is offered by the bank. Existing IRAs may be rolled over from other plans at maturity as long as reinvestment occurs within 60 days. In addition to the Traditional IRA, we also offer ROTH IRAs. It pays a higher rate of interest than the traditional savings account.
Interest is accrued on a daily collected balance and is credited and compounded monthly.
Transaction limitations are set by federal regulation. You are limited to 6 transfers per month to another account with us or to a third party by means of a pre-authorized, automatic, or telephone arrangement. No more than3 of these may be by check to a third party. The Planters Bank Savings Account is a great way to start the savings habit. Young savers can earn interest regardless of the account balance.