A certificate of deposit (CD) is a great alternative to a traditional savings account and earns higher yields while providing protection against fluctuating interest rates. An individual retirement account (IRA) is one of the easiest and most tax-friendly ways to save regularly and successfully for retirement.
Our CDs and IRAs range in maturity periods from 7 days all the way up to a 10 years. With competitive rates and flexible maturity, you have the ability to augment your savings in a way that makes the most sense for you. And we're always happy to answer any questions you may have.
Certificate of Deposit and Individual Retirement Account Comparison:
| Online Account Opening |
* |
 *
|
* |
| Minimum Opening Balance |
$500 |
$2,500 |
$250 fixed accounts
$50 variable accounts |
| Minimum Daily Balance Required to Avoid Monthly Service Charge |
– |
– |
– |
| Monthly Service Charge |
– |
– |
– |
| Withdrawal Fee |
$10 per withdrawal over 1 per month1 |
Penalty for early withdrawal2 |
Penalty for early withdrawal2 |
| Competitive Interest Rate |
Compounded daily–Tiered rates |
Compounded daily |
Compounded daily |
| Interest Paid on Collected Balances |
At maturity |
Varies |
Varies |
| Online Banking |
Free |
Free |
Free |
| Mobile Banking |
Free |
Free |
Free |
| Banner Bank-by-Phone |
Free |
Free |
Free |
| Additional Options and Features |
|
- Terms from 7 days to 10 years
|
- Terms from 7 days to 10 years
- No IRA annual fee
- Contributions may be tax deductible3
|
* Online application available on select terms; All others, please contact your local branch.
1Penalty of 7 days interest if withdrawal is made within 6 days of previous withdrawal. 2Early withdrawal penalty varies by term. Consult a Banner Bank Representative for details. 3Consult a tax advisor. Banner Bank.