CDs and IRAs
Savings options to suit any stage of life
From saving for a rainy day to higher education or retirement, we have savings options to fit your needs. Whether you’re looking for a straightforward option to earn interest, or need some liquidity for your assets, we can tailor a solution for your situation.
Certificate of Deposit
A Secure way to grow your money
With our CDs, you decide how long you want to invest your money. We offer a variety of terms providing just the right length to help you meet your savings goals. CDs offer a safe investment, with competitive interest rates.
Choose from a wide range of CD Options
Whichever term or type of CD you’d like, you’re sure to find the right product to meet your needs. Rates on all of our CDs are updated regularly to reflect market conditions.
Up to 120 months.
Earnings can be compounded or deposited to an account with us or another financial institution. Special rates may be available to checking and savings account customers.
- Based on the term or type of certificate, there are minimum balance requirements and substantial penalties for early withdrawal.
- Interest rates are subject to change at maturity.
Higher Learning Fund
Save now for a priceless investment in the future
Education is at once priceless and incredibly pricy. Higher Learning Fund is a certificate of deposit designed to help families save for the future education of their children.
$100 to open the account. Additional deposits can be made at any time, at any dollar amount.
Maturity upon GraduationMaturity date is based on date of opening and July of graduation year from high school. Substantial penalty for early withdrawal.
The rate may change after account is opened.
Protect your Asset with CDARS
The Certificate of Deposit Account Registry Service® – is the most convenient way to access FDIC insurance on multi-million-dollar CD deposits and to earn CD-level rates, which often compare favorably to Treasuries and money market mutual funds.
Access multi-million-dollar FDIC insurance coverage directly through First International Bank & Trust.
Access multi-million-dollar FDIC insurance coverage by working directly with just one bank, a bank you may already know and trust.
Receive one easy-to-read statement from your bank summarizing all your CD holdings.
IRAs (Individual Retirement Accounts)
Put your retirement dollars to work
IRAs, or Individual Retirement Accounts, can provide a tax benefit today, because you may be able to deduct all or part of your annual contribution from the gross income of your taxes. We offer traditional and Roth IRA plans.
Invest in your future
With a traditional IRA, you pay taxes after you retire, when you withdraw your money.
Get your traditional IRA started through us
Anyone under age 70½ who earns taxable income can have a traditional IRA. Contributions may or may not be taxable, depending on several factors:
- How much you earn
- Your tax filing status
- Whether or not you receive social security
- Whether or not you have access to a retirement plan at work.
Deductible Traditional IRA
Deductible IRA contributions can be deducted from your taxable income.
Non-Deductible Traditional IRA
Contributions to a non-deductible IRA are funded “after taxes.” These contributions can’t be deducted when you file your tax return.
Grow your money, tax-free
Roth IRAs are different from traditional IRAs in that you pay taxes on the money you contribute today, but you can withdraw funds during retirement tax-free. Contribution levels are limited by your income.
Grow tax-free earnings
A Roth IRA is a unique way to fund your retirement, because you pay taxes on your contributions, but the money grows tax-free. There are no additional taxes to pay when you withdraw funds during retirement. You can contribute to a Roth IRA if you earn taxable income and meet certain other conditions. Find current Roth IRA Income limits as set by the government.
You can withdraw any funds you contribute for any reason, without paying a penalty (You can be penalized for any early withdrawal on earnings).
Open a Roth IRA
IRAs at a glance
Know the benefits and limitations of Traditional IRAS and Roth IRAs.
|Traditional IRA||Roth IRA|
|Tax-Deductible Contributions||Yes (deductible traditional IRA only)||No|
|Tax-Free Earnings||No (You only pay taxes when you withdraw after you retire)||Yes|
|Tax-Free Withdrawals after Retirement||No||Yes|
|Income Limits||Yes (Deductible)|
Who is FIBT?
First International Bank & Trust (FIBT) is a full-service, family-owned, independent community bank serving a wide range of communities across North Dakota, South Dakota, Minnesota, and Arizona.