CDs & IRAs

Looking for a secure investment with a higher return? Our CDs rates and terms are competitive, check in frequently to review rate changes and specials

Certificates of Deposit (CDs):

Elevate Your Savings with Competitive Rates

At Franklin Savings Bank, your financial growth is our priority. Our Certificates of Deposit (CDs) offer a secure investment opportunity, combining competitive rates with the peace of mind that comes from a fixed return. Designed to fit a variety of financial goals and timelines, our CDs ensure that your investment works as hard as you do.

Individual Retirement Accounts (IRAs):

Empower Your Retirement Planning with Our Diverse IRA Options

At Franklin Savings Bank, we’re committed to providing you with the tools and options to build a secure financial future. Our range of Individual Retirement Accounts (IRAs) offers flexible solutions tailored to meet your retirement savings goals, whether you’re just starting your journey or looking to maximize your existing savings.

Choose the IRA That’s Right for You:

  • Roth IRA: Invest after-tax dollars now and enjoy tax-free withdrawals upon retirement. A Roth IRA is an excellent choice for those who anticipate being in a higher tax bracket in the future.
  • Traditional IRA: Make significant tax-deductible contributions today and benefit from tax-deferred interest growth until you withdraw funds. Ideal for individuals seeking immediate tax benefits while planning for a stable financial future.
  • Coverdell Education Savings Account: Specifically designed for future educational expenses, this account allows for tax-free withdrawals when funds are used for qualifying educational costs. It’s a powerful way to invest in your child’s or grandchild’s education.

Maximize Your Savings with Tax Advantages:

Depending on your filing status and income, you can take advantage of significant annual tax deductions now, while earning tax-deferred interest that compounds over time until you begin withdrawals. Alternatively, opting for a Roth IRA allows you to deposit after-tax dollars today and benefit from tax-free withdrawals upon retirement, providing financial flexibility and tax-efficient growth.

Please note: Interest is compounded and credited monthly on a 365/365 day basis. There is a substantial penalty for withdrawals prior to maturity on time deposits.

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