Promotion Background

You Can Do More

Get answers, make financial plans, and see how change affects your bottom-line. Explore free online financial wellness!

Let's Go

Log In To Your Account


Download Our App

iOS

  • Personal
    Personal iOS
  • Business
    Business iOS

Android

  • Personal
    Personal Android
  • Business
    Business Android
close icon

American Bank & Trust

Invest

When you want your money to earn more.

Certificates of Deposit (CD)

For those times you need a place to put your hard-earned money where it is safe and will earn more interest than it would in a typical savings account, we offer CDs and IRA CDs.

Product Features

Earn more interest on the money you don’t need to access every day.

  • FDIC insured
  • $500 minimum deposit for a CD, $250 for an IRA CD
  • Interest compounds semi-annually 
  • Multiple term options (Typically, the longer the term the higher the interest rate.)
  • Bonus interest rates available with Relationship Packaging
  • No monthly fees
  • Free Online and Mobile Banking
  • Automatically renewable

VIEW INTEREST RATES

Withdrawals from a Certificate of Deposit prior to maturity or prior to any notice period may be restricted and may be subject to penalty.

Understanding IRA CDs

In an IRA CD, the IRA funds are invested in a CD, as opposed to being invested in stocks or bonds. Like with any IRA, the advantage is that you do not pay tax on your money as it grows. Depending on whether you have a Traditional IRA or a Roth IRA, you will either pay taxes before you contribute your money or after you withdraw the money from the account.

Traditional IRA vs Roth IRA

Features Traditional IRA Roth IRA

Best for …

Typically, best if you expect to be in the same or lower tax bracket when he or she starts taking withdrawals.

Generally best if you expect to be in a higher tax bracket when you start withdrawing funds.

Tax Implications

Allows you to receive a tax deduction upfront if certain conditions are met. Earnings grow tax deferred.

Pay taxes upfront so withdrawals are tax-free when certain conditions are met.

Annual Contribution Limits

$6,000, additional ($7,000 if you’re age 50 and older)

$6,000, ($7,000 if you’re age 50 and older)

Income Eligibility

Those with earned income below a certain level.

Anyone with earned income.

Minimum Distribution

Mandatory distribution requirements at age 72.

No minimum distribution required at age 72.

Traditional IRA

Best for …

Typically, best if you expect to be in the same or lower tax bracket when he or she starts taking withdrawals.

Tax Implications

Allows you to receive a tax deduction upfront if certain conditions are met. Earnings grow tax deferred.

Annual Contribution Limits

$6,000, additional ($7,000 if you’re age 50 and older)

Income Eligibility

Those with earned income below a certain level.

Minimum Distribution

Mandatory distribution requirements at age 72.

Roth IRA

Best for …

Generally best if you expect to be in a higher tax bracket when you start withdrawing funds.

Tax Implications

Pay taxes upfront so withdrawals are tax-free when certain conditions are met.

Annual Contribution Limits

$6,000, ($7,000 if you’re age 50 and older)

Income Eligibility

Anyone with earned income.

Minimum Distribution

Mandatory distribution requirements at age 72.

Always consult a financial advisor regarding deductibility. Normally, withdrawals prior to age 59 1/2 are subject to an IRS penalty.

For more details on which is right for you, or to open an account call or stop in today!

CONTACT US

American Bank & Trust

Wealth Management

Need Personal Wealth Management Services?

Learn more

American Bank & Trust

Need smart money-saving tips?

Yes, please

American Bank & Trust

Clue: We know it’s not our Business, but we hope Magnum will Spend his letter fortune wisely.

3S4LA

scrolltop