Accounts to Focus the Way You Save
If you're looking to save more aggressively, you're likely looking for an account that offers features beyond what you'll find in a traditional savings account. At German American State Bank, we give you those options. If you're looking to save more, you could benefit from a certificate of deposit (CD). If you're looking to save more for your retirement, we offer a several individual retirement accounts (IRAs) for you to choose from. Contact our team to learn more about how you can save more effectively with tools from German American State Bank.
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Save with Confidence, Plan with Certainty
A Certificate of Deposit (CD) from German American State Bank offers a straightforward way to grow your savings with confidence. With fixed rates and clearly defined terms, CDs provide stability and peace of mind—so you know exactly what your money will earn when your account matures.
Choose from a range of term options designed to support both short-term goals and long-term plans. And because decisions are made locally, our team is here to help you select the CD that fits your timeline and savings strategy.
CD features include:
Competitive fixed interest rates
Multiple term options
Minimum opening deposit of $5,000
Guaranteed returns when held to maturity
For current rates and available terms, contact your local banker.
Explore Our Retirement Account Options
Planning for retirement starts with the right foundation. An Individual Retirement Account (IRA) helps you grow your savings over time while taking advantage of meaningful tax benefits. With options that offer either tax-deferred or tax-free growth, you can choose an approach that fits your long-term goals. We offer a variety of IRA accounts to support different needs and stages of life—so you can plan with confidence and clarity. Review the options below to learn more.
| Account Type | Who This Account Is For | What You Need to Know About This Account |
|---|---|---|
| Traditional IRA | Individuals looking for tax-deferred growth | Contributions may be tax-deductible; earnings grow tax-deferred until withdrawal; penalties for early withdrawal. |
| Roth IRA | Individuals seeking tax-free growth | Contributions are made with after-tax dollars; earnings grow tax-free; qualified withdrawals are tax-free. |
| SEP Account | Self-employed individuals and small business owners | Allows higher contribution limits than traditional IRAs; contributions are tax-deductible. |
| Simple IRA | Small businesses and their employees | Employer and employee contributions; lower contribution limits than SEP IRAs; tax-deferred growth. |
| CESA Plans | Parents saving for their child's education | Contributions grow tax-free; withdrawals for qualified education expenses are tax-free. |
Foresight Bank does accept Rollover IRA deposits and direct transfers. Rollovers involve moving eligible assets from an employer-sponsored plan, such as a 401(k) or 403(b), into an IRA. Please contact your local banker today or give us a call at 815-362-2310.