IRAs from CNB Bank & Trust, N.A.
An Individual Retirement Account is an excellent tool for retirement savings. Depending on the type of IRA you choose, contributions may be tax-deductible and will grow either tax-deferred or tax-free.
Contact us for more information about the benefits of IRAs.
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IRAs from CNB Bank & Trust, N.A.
An Individual Retirement Account is an excellent tool for retirement savings. Depending on the type of IRA you choose, contributions may be tax-deductible and will grow either tax-deferred or tax-free! Contact a Universal Banker at CNB Bank & Trust, N.A. for more information about the benefits of IRAs.
1Traditional IRA
Allows you to defer taxes on the earnings on your contributions until they are withdrawn. Certain contributions are tax-deductible in the tax year for which you make them.
1Roth IRA
Allows only nondeductible contributions and features tax-free withdrawals. Since Roth IRA contributions are nondeductible and taxed in the year they are earned, if you expect to be in a higher tax bracket when you retire, you may benefit more from a Roth IRA than from a Traditional IRA.
2Self Directed IRAs
Managed IRAs are offered through our Trust Department. Please contact our Wealth Management Group about Self Directed IRAs.
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Disclosures:
1Minimum Opening Deposit $50.00; Contributions can be made with as little as $10.00 per deposit; IRA rates are subject to change; A $50 fee will be incurred if the IRA is closed for any reason other than death or disability.
2Trust and Wealth Management Services: not a deposit, not FDIC insured, not insured by any Federal Government agency, not guaranteed by the bank, may go down in value.
IRA SAVINGS
| Daily Balance required to obtain advertised APY |
Interest Rate |
Annual Percentage Yield (APY) |
Minimum Opening Deposit |
| 0.01 - 100,000.00 |
1.60% |
1.61% |
$50.00 |
| 100,000.01 and above |
1.80% |
1.61% - 1.72%** |
$50.00 |
| **IRA Savings APY assumes maximum balance of $250,000 |
| • Advertised rate and APY and corresponding balance tiers are subject to change annually on the anniversary date of the account opening. |
The account listed above is a variable rate account and the advertised rates, APYs, and Balance Tiers may change after the account is opened. Fees could reduce the earnings on an account. Please refer to the Truth in Savings Disclosures for each account, which are available upon request, for additional account details. The interest rates and APYs are accurate as of October 9, 2024 for the Region 1 branches of CNB Bank & Trust, N.A. only. Region 1 includes: Carlinville, Hillsboro, Litchfield, Taylorville, and Virden. Member of the Federal Deposit Insurance Corporation and the Community
IRA SAVINGS
| Daily Balance required to obtain advertised APY |
Interest Rate |
Annual Percentage Yield (APY) |
Minimum Opening Deposit |
| 0.01 - 100,000.00 |
1.60% |
1.61% |
$50.00 |
| 100,000.01 and above |
1.80% |
1.61% - 1.72%** |
$50.00 |
| **IRA Savings APY assumes maximum balance of $250,000 |
| • Advertised rate and APY and corresponding balance tiers are subject to change annually on the anniversary date of the account opening. |
The account listed above is a variable rate account and the advertised rates, APYs, and Balance Tiers may change after the account is opened. Fees could reduce the earnings on an account. Please refer to the Truth in Savings Disclosures for each account, which are available upon request, for additional account details. The interest rates and APYs are accurate as of October 9, 2024 for the Region 2 branches of CNB Bank & Trust, N.A. only. Region 2 includes: Brighton, Carrollton, Chapin, Jacksonville, Jerseyville, and Pittsfield. Member of the Federal Deposit Insurance Corporation and the Community
IRA SAVINGS
| Daily Balance required to obtain advertised APY |
Interest Rate |
Annual Percentage Yield (APY) |
Minimum Opening Deposit |
| 0.01 - 100,000.00 |
1.60% |
1.61% |
$50.00 |
| 100,000.01 and above |
1.80% |
1.61% - 1.72%** |
$50.00 |
| **IRA Savings APY assumes maximum balance of $250,000 |
| • Advertised rate and APY and corresponding balance tiers are subject to change annually on the anniversary date of the account opening. |
The account listed above is a variable rate account and the advertised rates, APYs, and Balance Tiers may change after the account is opened. Fees could reduce the earnings on an account. Please refer to the Truth in Savings Disclosures for each account, which are available upon request, for additional account details. The interest rates and APYs are accurate as of October 9, 2024 for the Region 3 branches of CNB Bank & Trust, N.A. only. Region 3 includes: Oak Forest, Palos Heights, and Tinley Park. Member of the Federal Deposit Insurance Corporation and the Community
IRA SAVINGS
| Daily Balance required to obtain advertised APY |
Interest Rate |
Annual Percentage Yield (APY) |
Minimum Opening Deposit |
| 0.01 - 100,000.00 |
1.60% |
1.61% |
$50.00 |
| 100,000.01 and above |
1.80% |
1.61% - 1.72%** |
$50.00 |
| **IRA Savings APY assumes maximum balance of $250,000 |
| • Advertised rate and APY and corresponding balance tiers are subject to change annually on the anniversary date of the account opening. |
The account listed above is a variable rate account and the advertised rates, APYs, and Balance Tiers may change after the account is opened. Fees could reduce the earnings on an account. Please refer to the Truth in Savings Disclosures for each account, which are available upon request, for additional account details. The interest rates and APYs are accurate as of October 9, 2024 for the Region 4 branches of CNB Bank & Trust, N.A. only. Region 4 includes: Alton, Clayton, and Edwardsville/Glen Carbon. Member of the Federal Deposit Insurance Corporation and the Community
Ready to Open an IRA?
Our staff is ready help you open an IRA when you are ready. To best assist you with opening an account, please complete a Contact Us form or visit your closest branch.
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Personal Banking Savings Services
What types of personal savings accounts does CNB Bank & Trust offer?
CNB Bank & Trust offers a variety of savings accounts to meet your financial goals. This includes traditional savings accounts, high-yield savings accounts, and certificates of deposit (CDs), among others. Each account type has unique features and benefits tailored to different saving needs. Information can be found on our website under Personal Savings or by contacting a Universal Banker at your local CNB Bank & Trust, N.A. branch.
What is the minimum deposit requirement to open a personal savings account?
The minimum deposit requirement varies depending on the type of savings account you choose. For specific minimums, please refer to the savings account options on our website or contact us directly for more information.
Are there any fees associated with personal savings accounts?
Some savings accounts may have associated fees, including monthly maintenance fees or fees for exceeding certain transaction limits. We strive to keep our fees transparent and minimal. Detailed fee information for each account can be found on our website under Personal Savings or by contacting a Universal Banker at your local CNB Bank & Trust, N.A. branch.
Can I access my personal savings account online?
Yes, all our savings accounts come with online and mobile banking access, allowing you to view balances, and depending on the type of savings account, make transactions securely from anywhere, at any time.
How many withdrawals can I make from my personal savings account each month?
Depending on the type of savings account involved, withdrawals and transfers are limited to four per month; if over four, an excess withdrawal fee applies. Please review your account’s terms and conditions for detailed information.
Can I set up direct deposits into my personal savings account?
Yes, you can easily set up direct deposits into your savings account. This is a convenient way to automatically save for the future. Our Universal Banker team can assist you with the setup process.