Phone: (912) 489-BANK

CDs & IRAs

To ensure financial security, First Southern offers a full range of Certificates of Deposit (CDs) and Individual Retirement Accounts (IRAs). Our committed personal bankers can help tailor a strategy that best suits your situation. A solid foundation includes contributing to your IRA to plan for retirement and establishing CDs for higher yields than a savings account.

CD Summary

Terms range from three months to five years
Minimum to open is $500
Rates vary according to length of term
Interest can be paid monthly, quarterly, semi-annually, annually, or at maturity
Automatic certificate renewal available
Interest may be reinvested, deposited into another account, or paid by check
CDs may be used as collateral on loans
All CDs are subject to penalty for early withdrawal

IRA Summary

First Southern offers Traditional, Roth, and Educational IRAs as well as Simplified Employee Pension Plans (SEPs)
Minimum to open is only $100
Traditional IRA contributions are tax deferred until withdrawal
Contributions to Traditional IRAs may be tax deductible
All earnings on Roth IRA are tax-free upon withdrawal
Withdrawals from IRAs will likely incur penalties prior to age 59½
Distributions on Education IRAs (also called Coverdell Education Savings Accounts) are tax-free when used for qualified education expenses

Choosing the right IRA plan is specific to your financial circumstances. Your personal First Southern banker can help you select the best plan for your future.