Savings, CDs & IRAs

Pinnacle Bank offers several different ways to save your hard-earned money. From savings accounts to certificates of deposit (CD’s), and individual retirement accounts (IRA’s), we have the product to fit your needs. We also offer online account opening here.

(Note: Upon completion of online application, a New Accounts Specialist will reach out to you within the next 3 banking days.)


Basic savings account that earns interest each month.

  • Minimum deposit to open account is $100
  • Minimum monthly average daily balance to avoid fees is $100 (If average daily balance falls below $100; $2 monthly service fee)
  • Minimum average daily balance requirement waived for account holders under 21 years old and seniors 55 years of age and older
  • Limited to six transactions per statement cycle ($1 per item thereafter)
  • No fee Mobile Banking, Online Banking, Telephone Banking and E-Statements

Money Market

This money market account has a limited check writing capability but has a tiered interest rate structure that gives you a higher rate with higher balances.

  • Minimum deposit to open account is $2,500
  • Minimum average daily balance to avoid fees is $2,500 (If average daily balance falls below $2,500; $5 monthly service fee)
  • Service fee waived for seniors 55 years of age or older
  • No fee Mobile Banking, Online Banking, Telephone Banking and E-Statements

Roth and Traditional Individual Retirement Accounts

The basic differences between a Roth and Traditional IRA lie in three areas; taxes, eligibility, and withdrawals.

Roth contributions are not tax deductible while the earnings and principal are 100% tax-free, if rules and regulations are followed. The principal contributions can be withdrawn any time without penalty (subject to some minimal conditions) with a Roth IRA. You would pay penalties if you withdraw earnings before retirement age. When you reach retirement age, you are able to withdraw all of the money 100% tax-free. There is no mandatory distribution age with the Roth IRA. Only single-filers, with taxable compensation up to $139,000, or married couples, with combined taxable compensation up to $206,000 annually, are eligible for Roth IRAs.

Where taxes are concerned, the Traditional IRA is the opposite of the Roth. Traditional IRA contributions are tax deductible depending on income level, but taxes are paid on earnings when withdrawn from the IRA. The Traditional IRA is referred to as a, "Tax Deferred investment". All funds withdrawn from a Traditional IRA, including principal contributions, before 59 ½, are subject to a 10% penalty, but there are some exceptions. Traditional IRAs are available to anyone, with no income restrictions as long as you have taxable compensation.

Pinnacle Bank offers IRA investment products in either a variable savings account or a certificate of deposit.

Individual Retirement Account (IRA)

Simple retirement savings account that earns a competitive interest rate.

  • Minimum deposit to open IRA Savings account is $100
  • Minimum deposit to open IRA Certificate of Deposit is $1,000
  • Can be qualified for Traditional, ROTH, Simple, or SEP
  • Qualify for 0.25% increase in interest rate with monthly automatic transfer
  • Subject to IRA custodial transfer fee of $25 and may be subject to limitations and/or penalties imposed by the IRS. Refer to IRA Agreement or your tax advisor for more information on transaction limitations.

Certificate of Deposit (CD)

Many terms are available to best fit your needs. Minimum balance to open a CD is $1,000. Contact us for latest Certificate of Deposit Rates!