Savings

Defiance State Bank ("DSB") believes that saving for retirement is one the most important financial tasks you will ever undertake. The right savings plan provides a secure financial future. We offer IRA, SEP, SIMPLE and ROTH accounts.

6 month and 12 month CD's at DSB are Open End.  This means you can deposit to an existing CD any time!  Each additional deposit Minimum $25.00.   Substantial Penalty for Early Withdrawal may apply.

Minimum Deposit $500.00 for each term. 

Call us at 712-748-3561 or 712-674-3245 for the more information on our CD's and IRA's.

Minimum Deposit $25.00 for Retirement Accounts -
Save a little each month and watch your Retirement GROW.

Traditional IRA:  Individual Retirement Account

No fees

Earned income required to be eligible to deposit (income limitations)

Tax deferred interest until withdrawn

Contributions may be tax deductible

Contributions cannot be made for the year you attain 70 ½ years of age

Variable and Fixed investment options available

Distributions are penalty free if taken after attaining age 59 ½

Mandatory distributions upon attaining 70 ½ years of age

FDIC insurance coverage applies

SEP-IRA:  Self Employed Pension Plan

No fees

Earned income required to be eligible to deposit (income limitations)

Tax deferred interest until withdrawn

Contributions are tax deductible

Contributions can be made after attaining age 70 ½ if still have earned income

Variable and Fixed investment options available

Distributions are penalty free if taken after attaining age 59 ½

Mandatory distributions upon attaining 70 ½ years of age

FDIC insurance coverage applies

SIMPLE-IRA:  Savings Incentive Match Plan for Employees of Small Employers

No fees

Must have earned income to be eligible to deposit (income limitations)

Tax deferred interest until withdrawn

Contributions can be made after attaining age 70 ½ if still have earned income

Employer sponsored pension plan with 100 or fewer employees

Employees deduct a percentage from each paycheck to be put into a SIMPLE IRA for themselves

Variable and Fixed investment options available

Mandatory distributions upon attaining 70 ½ years of age

FDIC insurance coverage applies