Savings

Savings


Our general savings account is an interest bearing account that is offered to all customers. This account has no minimum balance requirements, however to earn interest you must maintain a $5.00 minimum balance. Interest for the general savings account is compounded quarterly. There are 18 debits allowed in a quarter, with a $2.00 charge per debit thereafter. Statements are processed quarterly. For the current interest rate of this account please call 605-426-6031.

Visit our Bank in Ipswich to open an account today!

Certificate of Deposit


The Ipswich State Bank offers several different options regarding Certificated of Deposits (CD’s).

  • The minimum amount required to open a CD is $1000.00
  • Early withdrawal penalties may apply
  • Accounts may be set up single maturity or automatically renewable. All automatically renewable certificates have a 10 day grace period
  • For current interest rates please call 605-426-6031.

We have several different CD terms to choose from including:

CD TERMS:

6 Month CD
12 Month CD
24 Month CD
48 Month CD

Stop in today to open a Certificate of Deposit!

IRA


The Ipswich State Bank offers Traditional IRA’s and Roth IRA’s

  • All IRA deposited are invested into an 18 month CD
  • Penalties for early withdrawals may apply
  • Current interest rates can be obtained by calling 605-426-6031

Vist our Bank in Ipswich to open an IRA today!

Money Market


The “Money Market account” is an interest bearing account. Interest is compounded and credited to the account monthly. The minimum balance to open a Money Market account is $2,500.00. This account must maintain an average daily balance of $2,500.00. During each month only six debits can be made to this account. If you make more than six debits a $0.50 fee will be assessed per check.

If on the day we pay interest your average daily balance drops below $2,500.00 a $10.00 fee will be imposed and the interest rate for that month will go to the savings rate. If you maintain an average daily balance of $2,500.00 your interest will be paid and no service charge will be imposed. For the current interest rate of this account please call 605-426-6031.

Visit our Bank in Ipswich to open an account today!