Health Savings Account
Health Savings Account (HSA) is a tax-advantaged savings account that you can use to pay qualified medical expenses. When combined with a high-deductible health plan, it offers savings and tax advantages that a traditional health plan can't duplicate. The minimum to open this account is $100 with variable rate and interest paid monthly and no monthly fee.
Certificates of Deposit (CD)
Certificates of Deposit (CDs) are a great alternative to traditional Savings Accounts. By investing your money for a fixed term you can earn higher yields while protecting your money from fluctuating interest rates.
Individual Retirement Accounts (IRA)
Individual Retirement Accounts (IRAs) offer a number of tax advantages that allow individuals to save tax-free or tax-deferred to help meet their long-term investment goals. IRS regulations regarding IRA contribution limits as well as types of accounts are constantly changing. Consult a Tax Professional to determine how a First Bank IRA can be part of your financial plan.
Allows you to save money without paying taxes until you withdraw it from the account. The money you add to your IRA can lower your taxable income and grows tax-free while it remains in the account.
A variation on the Traditional IRA, a Roth IRA provides different tax incentives to investors eligible to participate. Contributions are made with after-tax assets and withdrawals are usually tax-free.
Please contact a Banker for a complete disclosure of the terms and conditions and interest rate information if applicable.
*Children’s Online Privacy