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 |
| Banner Bank-by-Phone |
Free |
Free |
Free |
| Banner Online Banking |
Free |
Free |
Free |
| Additional Options and Features |
|
- Additional deposits3
- Bump rate4
- Terms from 7 days to 10 years
|
- Additional deposits5
- Terms from 7 days to 10 years
- No IRA annual fee
- Contributions may be tax deductible6
|
* 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. 3 Available on selected Certificates of Deposits. Certain terms and conditions apply. 4“Bump the rate up” one time during each term on selected Certificates of Deposits for similar account type, balance and term. Rate may not be bumped to a promotional rate made available in special offers. 5Subject to contribution limits. 6Consult a tax advisor. Banner Bank.