CDs & IRAs

Focus Your Savings Strategy

Whether you're looking to earn more on your account balances or save more effectively for your retirement, First Savings Bank of Hegewisch gives you the tools to focus your savings efforts. We offer certificates of deposit (CDs) and individual retirement accounts (IRAs) to our customers. Contact our offices to learn more about your different savings options and how we can help you save more effectively.
Contact US Current Rates

Certificates of Deposit

CDs provide you with the opportunity to let your money do more work for you. Our CDs offer better interest rates than you will find in most traditional savings accounts. Here's what you need to know about our CDs:

Minimum deposits as low as $50.00
Terms ranging from 3 months to 48 months
Rate based on term length
Funds are FDIC-insured. Ownership type determines amount of coverage.
Multiple options available at maturity, including withdrawal or reinvestment
Early withdrawals subject to penalty

Retirement Accounts

First Savings Bank of Hegewisch has three IRA options for you to choose from:

Traditional IRAs
Roth IRAs
Coverdell Education Savings Account

IRA Type	What you need to know about this account
Traditional IRA	Contributions may be tax-deductible if income limits are met. Earnings grow tax-deferred, meaning you don't pay taxes on them until you withdraw the money. Withdrawals are taxed as ordinary income, and early withdrawals before age 59½ may incur a 10% penalty, with some exceptions. Required Minimum Distributions (RMDs) start at age 73.
Roth IRA	Contributions are made with after-tax dollars and are not tax-deductible. Earnings grow tax-free, and qualified withdrawals are also tax-free if the account has been held for at least 5 years and you are age 59½ or older. There are no RMDs during the account holder's lifetime. Early withdrawals of earnings may incur a 10% penalty, with some exceptions.
Coverdell Education Savings Account (ESA)	Contributions are not tax-deductible, but earnings grow tax-free if used for qualified education expenses. The beneficiary must be under 18 or have special needs. Contributions are limited to $2,000 per beneficiary per year, and there are income limits for contributors. Withdrawals are tax-free if used for qualified education expenses; otherwise, earnings may be subject to taxes and a 10% penalty.