Individual Retirement Accounts (IRA)

Individual Retirement Accounts (IRA)

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IRA/CD Special

Waiting for rates to rise? Enjoy a great guaranteed rate now with the flexibility to earn more if rates rise.

2.00% APY* for 66 months with a one-time bump option. Open a CD or IRA today!

*Annual Percentage Yield (APY) is accurate as of 01/18/15. A minimum balance of $5,000 is required to open account and earn current Annual Percentage Yield. A penalty may be imposed for early withdrawal. APY is based on term of CD purchased; fees could reduce earnings. Rate may change after account is open.


An IRA is a tax-advantaged* savings plan built around your individual needs that can make a world of difference in your retirement living. We offer competitive rates, no annual maintenance fees, and personalized service from our experienced staff. Spend your golden years worry free — ask us how to get started today.

  • Tax-advantaged retirement savings*
  • Traditional, Roth IRAs, or Coverdell accounts available
  • No setup or administrative fees
  • No monthly or annual maintenance fees

*Please consult your tax advisor

Traditional vs. Roth

The primary benefits of the Traditional IRA include the tax-deferred growth of your investments and the possible tax-deductibility of your contributions. Everyone under age 70 ½ at the end of the year, with earned income, is eligible to contribute – there's no income limit.

The Roth IRA provides no deduction for contributions, but instead provides a benefit that isn't available from any other form of retirement savings: if you meet certain requirements, all earnings are tax-free when you or your beneficiaries withdraw them.

Please consult with your tax advisor on which IRA is the best fit for you.

View the contribution and deductibility limits.

Coverdell Educational Savings Account

This investment product is specifically designed to pay for the future cost of a child's education. Contributions and earnings are tax-free when withdrawn to pay for qualified education expenses. Ask your Denmark State Bank representative for more information about this useful account.

  • Save to fund your children's education
  • No setup or annual fee
  • Dividends grow tax-free
  • Withdrawals are tax-free when used for qualified education expenses*
  • Designated beneficiary must be under 18 when contributions are made
  • $2,000 maximum annual contribution per child*
  • Contributions are not tax deductible
  • Certain income limits apply for contributions*

Learn More

You can also visit Coverdell Education Savings Accounts for more information.

*Subject to terms and conditions. Consult a tax advisor.

*Please consult a tax advisor.