CDs & Retirement  | Get Started!

Certificates of Deposit

A Certificate of Deposit, or CD, may be for you if you prefer a low-risk investment with a fixed interest rate. First Southern offers a wide variety of CD terms ranging from six months to five years, with multiple interest payment options.

  • Interest paid monthly, quarterly, semi-annually or at maturity and can be paid by deposit into a First Southern account
  • Convenient, automatic renewal
  • Penalty may apply for early withdrawal
  • A $500 deposit will open a CD

Individual Retirement Accounts

Individual Retirement Accounts, IRAs, are tax deferred interest-bearing accounts available to anyone with earned income to set aside for retirement. $100 will open an IRA. Certain restrictions and contribution limits apply. Please consult a tax advisor for details.

Traditional IRA

  • Contributions may be tax deductible (consult a tax advisor for details)
  • Spousal contributions are permitted
  • One or more beneficiaries may be designated
  • Penalty may apply for early withdrawal

Roth IRA

  • Earns interest that may be tax-free when balance is maintained for at least five years
  • Withdrawals may be made tax-free upon disability, death, reaching the age of 59½ or for first home purchase
  • Funds can be deposited at any age and are not subject to minimum withdrawal or distribution requirements
  • Spousal contributions are permitted
  • One or more beneficiaries may be designated
  • Penalty may apply for early withdrawal

Coverdell Education IRA

  • Contributor deposits funds into tax-advantaged savings account for higher education expenses of a chosen beneficiary
  • Contributor may name any beneficiary then under the age of 18
  • Penalty may apply for early withdrawal

A First Southern deposit expert will help analyze your needs, explain your options and answer your questions.

letsgetstarted