Weekly Rate Spotlight - Citizens State Bank Offering 4.00% APY Variable IRA

Citizens State Bank of Cadott, WI is offering a Variable IRA (VIRA) rate of 4.00% APY. The Variable IRA requires that you have a checking or savings account at the bank and make at least monthly transfers from one of those accounts into the IRA. There is no minimum transfer amount. The maximum total transfer amount is determined by IRA rules.

Variable IRAs

Variable IRAs are like savings accounts in a tax-advantaged IRA account. A variable IRA can either be a traditional IRA, in which income from the account is tax deferred, or a Roth IRA, in which post-tax income grows tax-free and can be withdrawn tax free. The main difference between a Variable IRA and a Fixed IRA is that the interest rate earned on money in a Variable IRA can change at anytime (think of the difference between a savings account and a CD).

A broader discussion of putting deposit money into IRAs can be found here.

Citizens State Bank

The VIRA can only be opened at a Citizens State Bank branch. The bank has four branches located close to Eau Claire, Wisconsin. The bank was founded in 1902. Its assets have remined relatively flat over the past six years, growing from $98 million to $99 million. The bank has a Texas Ratio of 18.76% versus the national average of 20.28%.

If you don't live near a Liberty Bank & Trust branch, BestCashCow can help you find a great IRA rate in your area.

• Find other great variable IRA rates in your local area.

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I hope to eventually also have the weekly rate updates go out via this email service.

Previous Weekly Rate Spotlights

• February 6, 2012 - Liberty Bank & Trust Offering 1.31% APY Savings Account Rate
• January 30, 2012 - WYMAR Federal Credit Union Offering 2.27% APY 24-Month CD
• January 23- 2012 - Frederica Credit Union Offering 1.65% APY 12-Month CD - Open to All
• January 17, 2012 - Western Heritage Bank Offering 2-Year CD Paying 1.75% APY
• January 9, 2012 - Navy Federal Credit Union Offering 3.00% APY 20-Month IRA CD
• January 5, 2012 - Consumers Credit Union Offers 4.09% APY Rewards Checking Account - Nationally Available
• December 29, 2011 - Aflac Federal Credit Union Offering 2.41% APY Savings Account
• December 19, 2011 - CIT Bank and Its 1.15% APY 12-Month Achiever CD
• December 12, 2011 - Citizens State Bank of TX Offering 2.85% IRA CD
• December 5, 2011 - Digital Federal Credit Union Offering 2.86% APY CD - Nationally Available

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