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CDs & IRAs

Looking for an excellent way to earn interest on your money? Or are you saving for retirement? Check out our competitive CD and IRA rates today!


Certificates of Deposit (CDs)

CDs are a great way to save if you are looking for guaranteed rates, FDIC insurance, and peace of mind. We can help you manage your CD investments with the following options:

  • Competitive interest rates
  • Terms from 91 days
  • Special rates and terms offered periodically
  • Several interest payment options
  • Minimum deposit of $500 required for most CD term options
  • Automatically renewable


Individual Retirement Accounts (IRAs)

Take the first step towards building a more secure future for you and your family with an IRA. Peoples State Bank of Velva offers both Traditional and Roth IRAs which are treated as a certificate of deposit. Once you have consulted your tax or legal professional for guidance, please contact us to start saving for your future.

A Traditional IRA has the following characteristics:

  • Tax-deferred earnings and tax-deductible contributions
  • You must have earned income equal to or greater than your contribution and you must be under age 70½
  • Required minimum distributions must be taken after age 70½

A Roth IRA has the following characteristics:

  • Tax-free earnings and tax-free withdrawals
  • You must have earned income equal to or greater than your contribution
  • Your modified adjusted gross income must fall within the limits prescribed by the IRS
  • Minimum distributions are not required at a set age