Individual Retirement Accounts

IRA Time Accounts

All North Star Bank Savings Certificates are available for your IRA investment with only a $500.00 minimum to open for most accounts.
  • A penalty may be imposed for early withdrawal
  • $500 minimum deposit to open for most accounts
  • IRA Time Accounts are offered at the same rates as our Savings Certificates

Benefits

  • Terms available for investment from 30 days up to 5 years
  • Interest rates based on current market conditions
  • Automatically renewable
  • IRA’s are insured separately up to $250,000.00 by the Federal Deposit Insurance Corporation.
  • Your IRA contribution may be fully or partially tax deductible, please consult a qualified tax advisor. Because IRA’s are designed as retirement savings, you cannot withdraw funds from the account without a tax penalty before you are the age 59 ½. Some exceptions may apply.
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IRA Money Market Savings Plan

Our IRA Money Market Savings account will allow you to make continuous deposits and consolidate your retirement funds. You may choose to set up a monthly transfer from your North Star Bank checking account to fund your IRA savings account, to meet your annual deposit goal.
$50.00 minimum opening deposit required

Benefits

  • Deposits in any amount, up to the annual amounts allowable by the Internal Revenue Service
  • Variable interest rate; accrues daily on collected balance and is compounded and paid monthly
  • IRA’s are insured separately up to $250,000.00 by the Federal Deposit Insurance Corporation.
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