Save more now—and later.
If you’re saving for a specific goal—such as a home purchase, college education or retirement—consider adding a Certificate of Deposit (CD) or Individual Retirement Account (IRA) to your investment portfolio with FirstCapital Bank of Texas.
* APY=Annual Percentage Yield. CD=Certificate of Deposit. APY valid as of 7/26/18 and is subject to change. CD terms are 6 months, 12 months and 24 months, respectively. Minimum balance required to open a CD and to obtain advertised APY is $500. Must have a checking account, savings account, or money market account at FirstCapital Bank of Texas to qualify for advertised APY. A penalty will be imposed for early withdrawal. Other rates and terms are available.
Certificates of Deposit (CDs)
Whether your savings goal is years away or right around the corner, you’ll find a CD with the term to fit your timeframe.
- Fixed-term CDs: We offer CDs with terms of from 30 days to five years so you can maximize your interest return and meet long-term financial goals.*
- Two-year Bump CD (Consumer & Commercial): Combining flexibility and security, a Bump CD allows you to take advantage of interest rate increases—and bump up your rate twice after your account is open for six months. However, if the bank’s posted rates decrease, you’re protected during the term of your CD. You can even add to your original deposit, up to $250,000, at any time during CD’s term.
Individual Retirement Accounts (IRAs)
For retirement savings, we offer no-fee IRAs invested in your choice of six-month, one-year or two-year term CDs. You may choose to transfer IRA funds from another institution or directly roll over funds from another source, such as an eligible retirement plan, to the FirstCapital Bank IRA that best meets your needs.
- Traditional IRA: Taxes are deferred until the funds are distributed from the IRA. A customer with a Traditional IRA may take a normal distribution between the ages of 59½–70½. Once the customer reaches age 70½, the customer must take an annual required minimum distribution. Regular IRA contribution limits do apply and are subject to change each tax year.
- Roth IRA: Taxes are taken out before the proceeds are contributed into the IRA. Income limitations do apply to Roth IRAs based on marital status and income levels. These limitations are subject to change each tax year. However, Roth IRAs do not require an annual minimum distribution at any specific age.
- SEP IRA: A Simplified Employee Pension (SEP) is one in which the employer contributes to an IRA. IRS Form 5305-SEP must be provided before the IRA can be opened. SEP IRA contributions are subject to income limitations.
- Coverdell Education Savings Account: This account is set up by a contributor for a minor’s future education expenses. The account includes a designated beneficiary, contributor, responsible individual and custodian/trustee.
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