PointBank Will Help You
Save Your Money Safely
Given the volatility of the current economy, many people in Denton County are turning to PointBank for help determining safer methods of saving money. As your local Denton County community bank, PointBank has a wide variety of alternative methods of savings to help your family achieve your financial goals.
Certificates of Deposit
Are you looking for an investment opportunity that offers a competitive rate while providing the safety of FDIC insurance? A Certificate of Deposit may be right for you.
Available Certificate of Deposit terms range from 30 days to three years. Minimum deposits start as low as $500. You may choose to compound your interest or automatically transfer it each month to your PointBank checking or savings account. Withdrawals made prior to maturity may be subject to an early withdrawal penalty.
Review the following options and then speak with one of our representatives about which Certificate of Deposit is best for you.
Triple Play CD
Looking for a safe, yet flexible place to put your money? Try the Triple Play CD.
- You can add to it once
- You can withdraw from it once*
- The rate can be increased once
All during the 12 month term, without penalties or fees.
*Withdrawls that bring balance below $500 may incur penalties or fees.
- With a low minimum deposit, an IRA CD is an option you can start almost immediately!
- Minimum deposit $250 with available terms from 30 days to three years.
Individual Retirement Accounts (IRA)
Whether you have been saving for years or you’re just getting started, we have a plan that fits your needs. You may invest your IRA funds in a Certificate of Deposit with minimum deposits starting as low as $250 and available terms ranging from 30 days to three years.
Review the following options and then speak with one of our representatives about which IRA is best for you.
- Your IRA contributions may be tax deductible.
- You are not taxed on your earnings until you start making withdrawals.
- To be eligible, you must be under age 70 1⁄2 with earned income. Consult your personal banker for more eligibility requirements.
- You can start taking distributions at age 59 1⁄2 without a federal tax penalty. You must start taking distributions by age 70 1⁄2.
- Consult your tax advisor for more information about eligibility, contribution limits and tax deductibility.
- Although your contributions aren’t tax deductible, you don’t have to pay federal income taxes on withdrawals as long as the funds have been in your account for five years and you’re over age 59 1⁄2.
- There’s no required age at which you must start taking distributions.
- Consult your tax advisor for more information.
- A Roth IRA offers many of the same benefits of a traditional IRA, such as tax-deferred earnings. However, with a Roth IRA, if you take your earnings as part of a qualified distribution, you might not have to pay taxes on the earnings.
Contact us today to discuss the best secure savings plan for you!
USA Patriot Act
Important information about procedures for opening a new account
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. What this means for you:
- When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.
- We may also ask to see your driver's license or other identifying documents.
We thank you for your understanding and for joining us in securing a safer tomorrow.