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.

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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