State Savings Bank

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Besides options regarding commercial loans, personal and business checking, savings, first time home buyers accounts and more, State Savings Bank in the Des Moines and Baxter metro offers several ways and accounts, online and in person, that you can earn a little more for your money. This includes CDs in terms from 6 months to 5 years, HSA CDs and Traditional or Roth IRA CDs.

View Current Rates

Certificates of Deposit (CDs)

A minimum deposit of $2,000 is required to open a regular Certificate of Deposit. If the certificate is presented for payment before maturity, an early withdrawal penalty will be assessed against the principal amount withdrawn from the CD. Stop at one of our Baxter or West Des Moines offices to open or contact one of our banking professionals for more information regarding deposit (CD) rates.

Health Savings Account (HSA) CDs

If you have an HSA-eligible High Deductible Health Plan (HDHP), you can invest existing Health Savings Account funds or new HSA contributions in an HSA CD at our Baxter or Des Moines locations. The following requirements apply:

  • A minimum deposit of $2,000 is required to open an HSA CD.
  • Interest earned on an HSA CD will be added to the CD.
  • Early withdrawals of principal for any reason are subject to an early withdrawal penalty. 
  • When you redeem your HSA CD, we will pay you the proceeds directly. To avoid the possibility of an unqualified medical distribution and tax penalty, in most cases, the money should be deposited in a Health Savings Account. We encourage you to seek the guidance of a tax professional if you have questions.

Learn more about State Savings Bank Health Savings Accounts (HSAs) here.

Individual Retirement Account (IRA) CDs

State Savings Bank offers competitive rates and terms and a variety of the best options for your retirement savings account. Please contact one of our personal bankers in our West Des Moines or Baxter locations and they can assist you in opening the right account, talk about CD rates, and more!

Roth IRA

Eligible individuals are allowed non-deductible contributions with tax-free withdrawals for certain distribution reasons after a five year holding period. Individuals age fifty and older will have an opportunity to make catch up contributions which exceed the standard contribution limits. Consult your tax advisor to see if this IRA might be for you.

Traditional IRA

Whether it’s a new plan or a transfer/rollover, let our customer service representatives help you set up your traditional IRA plan. Individuals age fifty and older have an opportunity to make catch up contributions which exceed the standard contribution limits. Consult your tax advisor to see if this IRA might be for you.

IntraFi Network Deposits Program

State Savings Bank is proud to be a member of the IntraFi Network Deposits program, formerly called CDARS. Through this program we can FDIC insure your deposits up to the amount of $25,000,000. When you place a deposit with us, we place your funds into CDs issued by other banks in the network. This occurs in increments of less than $250,000 to ensure that both principal and interest are eligible for full FDIC insurance. These exchanges, which occur on a dollar-for-dollar basis, bring the full amount of your original investment back to our bank. As a result, we make the total value of your deposit available for community lending purposes. Participation in the IntraFi Network Deposits program allows you to invest in the local community while protecting your investment.

There are many benefits to working directly with our IntraFi Network Deposits program. You can enjoy…

  • One Stop Shopping
  • Simplified Record Keeping
  • One banking relationship
  • One Interest Rate
  • One monthly statement
  • CD-Level Returns
  • Security of FDIC Insurance
  • Time-Saving Conveniences
  • Community Investment


We would like the opportunity to show you what the IntraFi Network Deposit program can do for you and your investment needs. Please contact one of our banking professionals who will assist you in opening the right account.

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