Health Savings Account (HSA) CDs
Grow Your Tax-Advantaged Savings with High-Interest CD Rates
A Health Savings Account Certificate of Deposit (HSA CD) from State Savings Bank is a secure, high-interest, smart way to grow your HSA funds, especially when you don’t need immediate access for medical expenses.
If you have a High Deductible Health Plan (HDHP) and qualify for an HSA, you can invest both new and existing HSA contributions into an HSA CD. It’s ideal for individuals looking to earn more money while maintaining the tax benefits of a Health Savings Account.
What Is an HSA CD?
An HSA CD is a type of Certificate of Deposit that allows you to invest your HSA funds at a competitive interest rate, typically higher than a regular HSA cash account. It's a smart financial planning tool if you're not expecting near-term medical costs and want to see your HSA balance grow faster.
Benefits of an HSA CD at State Savings Bank:
- Higher returns than standard HSA accounts
- Quarterly interest credits
- FDIC insured for added security
- Continued tax advantages when reinvested into an HSA
HSA CD Account Details
Opening an HSA CD with us is straightforward and secure:
- Minimum deposit: $2,000
- Interest: Compounded and added to the CD
- Maturity: Paid directly to you at the end of the term
- Early withdrawals: May be subject to a penalty
To maintain tax-free status and avoid IRS penalties, earnings from the CD should generally be returned to your HSA account after maturity. This ensures the funds remain eligible for qualified medical expenses.
Protect Large Balances with IntraFi® Network Deposits
State Savings Bank participates in the IntraFi Network Deposits Program, allowing you to keep large deposits safe and fully FDIC insured, up to $25 million.
Here’s how it works:
We place your funds into CDs at banks across the IntraFi network in increments under $250,000. This ensures that your entire balance, including interest, stays within FDIC coverage limits. Meanwhile, your full investment value remains at State Savings Bank, helping to support community lending.
Key advantages of IntraFi Network Deposits:
- FDIC insurance up to $25 million
- One bank relationship and statement
- CD-level returns with flexible terms
- Streamlined record-keeping
- Helps support your local community
Why Choose State Savings Bank?
At State Savings Bank, we offer more than just great HSA CD rates. We provide the peace of mind that comes from working with a trusted, community-focused institution. Our HSA CDs are designed to help you plan for the future with confidence, combining security, expert support, and strong FDIC protection.
Whether you're planning for future health care needs or looking to maximize your HSA investment, our team provides personalized account management and support. You'll enjoy the benefits of local banking with national-level deposit protection through IntraFi. Looking for more savings options? Explore our Traditional CDs and IRA CDs for secure, long-term growth alongside your HSA CD.
Get Started with a State Savings Bank HSA CD
Ready to grow your HSA savings with confidence? Open an HSA CD today and start earning more while keeping your money safe and tax-advantaged. Take control of your health savings and your financial stability. Contact our Banking Team to learn more or open an account.
