Individual Retirement Accounts (IRAs) | Minster Bank
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IRAs

Our traditional, FDIC-insured Individual Retirement Account (IRA) solutions offer risk-free, tax-deferred growth1 and other unique advantages to help you secure your future.

IRAs

Our traditional, FDIC-insured Individual Retirement Account (IRA) solutions offer risk-free, tax-deferred growth1 and other unique advantages to help you secure your future.

Explore Your Options

IRA Investment Savings

IRA Certificate of Deposit

Interest method

Variable rate, compounded daily and paid monthly, based on tiers:
Under $4,999
$5,000–$9,999
$10,000–$24,999
$25,000 and over

Fixed rate, compounded daily and paid quarterly, based on tiers:
$50,000–$99,999
$100,000 and over

Distributions

Paid semiannually or annually if balance is under $10,000; paid monthly, quarterly, semiannually, or annually if balance is $10,000 or over

Paid semiannually or annually if balance is under $10,000; paid monthly, quarterly, semiannually, or annually if balance is $10,000 or over

Terms

No required time frame

6 months–5 years

Minimum to open account

$25

$1,000

Charges

$5 per withdrawal if more than 3 per year

Interest penalty may apply for early withdrawal

Interest method

Variable rate, compounded daily and paid monthly, based on tiers:
Under $4,999
$5,000–$9,999
$10,000–$24,999
$25,000 and over

Distributions

Paid semiannually or annually if balance is under $10,000; paid monthly, quarterly, semiannually, or annually if balance is $10,000 or over

Terms

No required time frame

Minimum to open account

$25

Charges

$5 per withdrawal if more than 3 per year

Interest method

Fixed rate, compounded daily and paid quarterly, based on tiers:
$50,000–$99,999
$100,000 and over

Distributions

Paid semiannually or annually if balance is under $10,000; paid monthly, quarterly, semiannually, or annually if balance is $10,000 or over

Terms

6 months–5 years

Minimum to open account

$1,000

Charges

Interest penalty may apply for early withdrawal

How Much Money Do You Need to Retire?

Crunch the numbers with our convenient borrowing and budgeting calculators.

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More Solutions

SAVINGS

Achieve Your Goals Sooner

Five account options – plus one powerful app to manage it all.

INVESTMENTS

Envision the Future You Want

Customized investment options with trusted service and advice.

HOME EQUITY

Tap Into Your Home’s Value

Leverage your home equity for flexible and affordable financing.

We’re Here to Help

Our friendly local team is just a phone call or secure message away.

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Disclosures

1. Special withdrawal privileges if age 59 ½ or older. Minster Bank does not provide tax or legal advice. Please consult your tax advisor or attorney before making any decisions or taking any actions based on this information.

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