Savings



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Whether you're saving for a new home, a child's education, or retirement, we can help your money grow. Maquoketa State Bank has a solution to help ensure the money will be there when you need it. A full line of savings and investment products is at your disposal along with an experienced staff to help you make the right choice.


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Maquoketa State Bank's Premier Money Market Account affords you higher yields with the convenience of full liquidity. All the money in your account will earn a high rate of interest based on your average daily balance, and the more you keep on deposit, the higher the interest rate you will earn. Plus, the Premier Money Market Account has the solid protection of FDIC insurance, unlike mutual fund money market accounts.


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A Statement savings account is perfect for the saver who is just getting started or who wants easy access to their money. You can deposit or withdraw your money anytime at an Automated Teller Machine or any Maquoketa State Bank branch location.


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Health Savings Accounts, or HSA's, were created by Congress to combat rising medical costs by providing an incentive for more consumers to pay "first dollar" medical expenses. An HSA is similar to an IRA account, but is designed exclusively for covering medical expenses by the account owner and his or her dependents. HSA's can provide significant tax benefits to eligible individuals. To see if you qualify for a Maquoketa State Bank Health Savings Account, and for more information, please contact our Customer Service Department.


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Maquoketa State Bank offers a wide variety of Certificates of Deposit. We can help you choose which maturity term and interest rate fits your needs best. A CD is a low-risk investment providing you with a higher fixed interest rate than a daily savings account and the assurance that each dollar you invest will be returned at maturity, plus interest!

A twist on the standard Certificate of Deposit is Maquoketa State Bank's Money Builder CD. With this product, you can enjoy the convenience of a savings account with the earnings of a certificate of deposit. Deposits can be made anytime, and you can open a Money Builder CD with as little as $100. These CDs have a convenient one year maturity.


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Using CDARS, Maquoketa State Bank can distribute customer funds among other FDIC insured banks, allowing customers to manage all their CDs through one portfolio at MSB. All statements come from Maquoketa State Bank and no confidential financial information is ever transferred to other banks. CDARS offers our customers the convenience of local relationship banking with the security of investing in other FDIC insured networking member banks.


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Maquoketa State Bank offers a variety of Individual Retirement Account (IRA) options:

  1. The Traditional IRA: A retirement savings plan where your deposits may be tax deductible and earnings on your deposits are tax deferred until withdrawal.
  2. The Roth IRA: A retirement savings plan in which all accumulations and distributions made in accordance with the plan are tax free. Your earnings grow tax-deferred and can be withdrawn tax-free provided earnings are withdrawn as part of a qualified distribution and the account has been in existence five years. Roth IRA eligibility includes income and contribution tax guidelines. Check with us to see if you qualify for a Roth IRA.
  3. Educational IRAs: offer a great opportunity to supplement a college savings plan with after tax dollars. These earnings are not taxed if spent on college expenses

Regardless of which Maquoketa State Bank's IRA account you choose, they can be invested in the following manner:

  • IRA Set Rate Account deposits are held for the period of your choosing. The interest rate is determined the day the deposit is made. Choose from an 18, 30,or 60 month maturity.
  • IRA Variable Accounts have an 18 month maturity. The interest rate may change weekly. Deposits can be made anytime throughout the year up to the maximum the plan allows.

If you are changing jobs and need to move your qualified plan benefits from a former employer to an IRA, we can make that transfer for you simply and quickly. (The above IRA info can easily be e-mailed to you if helpful)


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Start your Holiday Savings account now and put a small amount away in regular intervals to save for the next holiday shopping season. Holiday savings accounts earn a competitive rate of interest and checks are mailed on or about November 1 of each year.  Direct deposit is also available for your convenience to an MSB checking or savings account.


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You can start saving for your next family vacation now by putting a small amount away in regular intervals in your Vacation Club Account. You'll be earning interest on your account at the current savings interest rate and will receive your Vacation Club check on or about May 1 of each year.

For non-traditional investments not covered by FDIC insurance, please contact a member of our Financial Advisory Services Group.
Click Here to contact us for more information.

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