When each certificate matures, it will automatically renew if you choose not to reinvest the funds in a different term, add additional funds to the certificate, or have a need for the funds.

Experience the advantages of relationship banking.  At Prairie State Bank & Trust we reward our core personal customers who maintain an active account or accounts with higher average balances.  Talk to a customer service representative today about how to qualify for a Relationship CD.

With all certificates, a penalty may be imposed for early withdrawal prior to the maturity date.

Call us today at 1-800-597-2977 for current CD rates and specials.

Traditional IRA

A Traditional IRA is a tax deferred retirement account. Contributions to a Traditional IRA plan may be tax deductible depending on the taxpayer’s income, tax filing status and other factors.

Prairie State Bank & Trust has trained IRA specialists who can educate you and offer you information on a Traditional IRA. There are tax advantages to establishing an IRA and you are encouraged to speak with your tax professional for more information as to what these are for a Traditional IRA.

Features

• Contribution limits depend on individual's situation
• Earnings grow tax-deferred until withdrawn
• Contributions may be tax-deductible
• Distribution may start as early as age 59 ½
• In a qualifying hardship situation, you can withdraw penalty free. Ask for details.

Roth IRA

A  Roth IRA is a tax exempt retirement account. Contributions to Roth IRAs are not tax deductible when they are made; however, qualified distributions made during retirement years are tax free.

Prairie State Bank & Trust has trained IRA specialists who can educate you and offer you information on a Roth IRA. There are tax advantages to establishing a Roth IRA and you are encouraged to seek your tax professional for more information as to what these are for a Roth IRA.

Features

• Contribution limits depend on individual's situation
• Contributions can be withdrawn tax & penalty free at anytime after the account has been open five tax years and you are age 59½ or older
• Earnings grow tax-deferred
• There are no minimum withdrawal requirements
• In a qualifying hardship situation, you can withdraw penalty free. Ask for details.

Coverdell Education Savings Account

Prairie State Bank & Trust has trained IRA specialists who can educate and offer you information on the Coverdell Education Saving Account (CESA). A great way to pay for higher-education expenses with tax free withdrawals.

Features

• Contributions limits are $2,000 per child
• Used for elementary, secondary, and post-secondary school expense
• Non-individuals, such as corporations may act as contributors
• Contributions and distributions from CESAs and prepaid state tuition programs may be used in the same year
• Withdrawals for qualified higher-education expenses are tax free