CDs & IRAs

Empire State Bank Certificate of Deposit and IRA accounts are a safe and secure way to earn a higher return on your investment. Highly competitive interest rates/annual percentage yields make Empire State Bank Certificate of Deposit and IRA accounts a wise investment.

Certificate of Deposit Accounts

Maturities range from 3 months to 5 years
Minimum balance to open an account is $1,000
Interest is compounded daily and credited monthly
Interest can be credited to the CD account, transferred to a statement savings, checking account or mailed.
A penalty may be imposed for withdrawals before maturity

Individual Retirement Accounts

Traditional IRA

A traditional IRA is a deductible personal savings plan that can be used to build a substantial retirement fund with deferred taxes on both principal and accrued interest.

IRA contributions may drop your taxable income into a lower tax bracket, reducing your taxes even more. Only earned income is eligible for an IRA.

ROTH IRA

The Roth IRA is a nondeductible IRA that offers tax-free distributions. Tax-free earnings allow you to grow your savings at a faster pace than taxable investments. But, the best part about this investment product is that it offers tax-free distributions for qualified reasons. That means the money you withdraw doesn’t have to be included at tax time.

Benefits:

Maturities range from 3 months to 5 years
Minimum balance to open an IRA certificate is $1,000
Interest is compounded daily and credited monthly
Penalty may be imposed for withdrawals before maturity

View Rates

For more information about IRA products, contact one of our branches.