Certificates of Deposit (CD)
Individual Retirement Account (IRA)
Any individual who has earned income may establish an IRA. The individual may also rollover proceeds from a pension plan to an IRA. Peoples National Bank of Kewanee offers both traditional and Roth IRAs. With a traditional IRA, you may be eligible to take a tax deduction on your contributions in the year of your deposit; then your retirement withdrawals are later taxed as income. Roth IRAs work in the opposite way. The money that you contribute now will be taxed as income, but there's no tax on your Roth IRA retirement withdrawals.
There are many factors to consider when opening an IRA, such as contribution amounts, term limits, and your expected income tax rates. Please contact a PNB Customer Service Representative for more details and current CD and IRA rates.
CD & IRA Terms
| Term | Minimum Deposit |
| 91 Day | ***$1,000 |
| 182 Day |
$1,000 |
| 12 Month | $1,000 |
| 18 Month | $1,000 |
| 24 Month | $1,000 |
| 30 Month | $1,000 |
| 36 Month | $1,000 |
| 42 Month | $1,000 |
| 48 Month | $1,000 |
***$50.00 minimum deposits are allowed on 91 Day IRAs ONLY for deposits to the IRA
from payroll deduction.