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CDs & IRAs


Saving with a term-based Certificate of Deposit (CD) or Individual Retirement Account (IRA) allows you to grow your money safely and smoothly.


Certificates of Deposit

Invest in one of our CD products for competitive rates and a guaranteed return without risk to your principal balance. CDs are a safe and suitable way to save for retirement, vacation, a new home, or college education.

  • Terms range from 6 months to 60 months 
  • $1,000 minimum deposit
  • Competitive interest rates
  • Interest compounded and credited semi-annually
  • One-time “Bump Rate” feature on 36-month and 60-month CDs
  • Penalty for early withdrawal 
  • FDIC Insured

FDIC offers an Electronic Deposit Insurance Estimator (EDIE). EDIE allow you to calculate the insurance coverage at FDIC-insured institutions like BankStar Financial.

View Rates


Individual Retirement Accounts

We offer a variety of options and specialty-trained experts to help you earn and earmark funds for your retirement savings, all of which are FDIC insured.

Traditional IRA
  • Allows qualified individuals to direct pre-tax income, up to specific annual limits, toward investments that can grow tax-deferred.  Contributions may be tax-deductible depending on the taxpayer's income, tax-filing status, and other factors.
Roth IRA
  • Similar to the Traditional IRA, but contributions are not tax-deductible, and qualified distributions are tax-free.
  • A Simplified Employee Pension (SEP) plan is a retirement plan established by employers or self-employed individuals. Employers may make tax-deductible contributions on behalf of eligible employees, including the business owner.  The employer is allowed a tax deduction for plan contributions, which are made to each eligible employee's SEP IRA on a discretionary basis. 
  • A Savings Investment Match Plan for Employees (SIMPLE) IRA is a retirement plan that may be established by employers, including self-employed individuals. The employer is allowed a tax deduction for contributions made to the SIMPLE. The employer makes either matching or non-elective contributions to each eligible employee's SIMPLE IRA and employees may make salary deferral contributions.

Provisions of the tax law that affect these accounts change each year. Be sure to talk to your tax advisor for the details before opening an account.



Be part of a special network. With CDARS®, you can receive up to $50 million in FDIC protection through BankStar Financial. There are few guarantees in life— FDIC insurance is one of them. CDARS® can be a valuable cash management or longer-term investment tool for you or your business.


  • Safety - Your money can receive up to $50 million in FDIC insurance coverage
  • Convenience - You work directly with BankStar Financial, you earn one interest rate and receive one regular statement. Private investors receive one year-end tax form.
  • Community Investment - The full value of your money can support BankStar Financial's lending opportunities in your community.
  • CD-Level Rates - Your money earns CD-level returns which may compare favorably with other investment alternatives, including treasuries, corporate sweep accounts, and money market mutual funds.


How does it work?

BankStar Financial is a member of a special network. When you place a large amount with BankStar, we place your funds into certificates of deposit issued by other banks in the network—in increments of less than $250,000—so that both your principal and interest are eligible for complete FDIC protection. With help from a sophisticated matching system, we exchange deposits with other banks that are members of the network.

These exchanges, which occur on a dollar-for-dollar basis, bring the full amount of your original deposit back to BankStar. As a result, we can make the full amount of your deposit available for community lending purposes.


What else should I know?

Now, you no longer need to open multiple accounts at multiple banks, manage various interest rates, organize interest disbursements from various sources, or manually consolidate monthly statements, reducing your administrative burden, especially during tax and financial reporting seasons.

With CDARS®, you can eliminate the need to monitor changing collateral values —another time-saving convenience — while your confidential account information remains protected.


Contact us today to discuss the best options for you.

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Placement of funds through the CDARS® service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits apply. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before CDARS® settlement for a deposit or after CDARS® settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of CDARS® satisfies those restrictions. CDARS, Certificate of Account Registry Service, and One Bank One Rate One Statement are registered service marks of Promontory Interfinancial Network, LLC.