Focus Your Savings
If you’re looking to get more out of your savings than what you can find in a traditional savings account, State Bank of Davis gives you options. From CDs that allow you to earn a better interest rate, to retirement accounts that allow you to save more effectively for retirement, we’ve got you covered. If you’re ready to focus your savings, you can get started by contacting our office to speak with one of our friendly team members.
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Certificates of Deposit
When you open a Certificate of Deposit (CD) at State Bank of Davis, you’re giving yourself the opportunity to earn a better interest rate. Here’s what you need to know about our CDs:
- Terms ranging from 3 months to 5 years
- Minimum deposit of $1,000 required
- Earn competitive interest rate on your balance
- Penalties may be imposed for early withdrawal
Retirement Accounts
There’s never a bad time to develop a strategy to start saving more effectively for your retirement. We offer several account options to allow you to save for your retirement. Compare our account options to see which one may be right for you.
Account Type | What You Need to Know About this Account |
|---|---|
Traditional IRA | Persons (of any age) with earned income, are eligible to contribute Earnings grow tax-deferred Annual contributions may be tax-deductible |
Roth IRA | Persons of any age are eligible if they meet certain income criteria Contributions are not tax-deductible Earnings grow tax-free No tax or penalties on qualified withdrawals |
Coverdell Educational IRA | Tax-free way to save for a child’s educational expenses Funds can be used for expenses related to elementary, secondary and college education |
SEP Account | Self-employed or small business owners are eligible to establish a SEP for themselves and their employees Contributions and earnings grow tax-deferred until withdrawn |
Simple IRA | Ideal for small employers who do not currently sponsor a retirement plan Easy to set up and low administrative costs Employees and employers are eligible to make contributions for employees |
*Please consult your tax advisor to determine which retirement account is right for you.