CDs & IRAs

Certificates of Deposit

Certificates of deposit are accounts that you agree to keep on deposit for a predetermined length of time. In return, Think offers an interest rate that is higher than a regular savings account. CDs can be used to save for any financial goal, long or short term.

Individual Retirement Accounts (IRAs)

IRAs are special accounts created specifically for retirement. There are two main types of IRAs, traditional and Roth. Traditional IRAs may allow for an immediate tax benefit. Roth IRAs typically allow for tax-free growth.


  • Options from 3 months to 5 years.

Minimum deposit

  • Variable rate: $250 or $10 with automatic transfer.
  • Fixed rate: $250
  • Jumbo: $50,000


  • Compounded and credited quarterly on most CDs. Interest on some CDs compounds monthly or at maturity.
  • Interest paid during the term of an account can be withdrawn without penalty. Interest renewed into a new account becomes part of the principal balance and is subject to penalty if withdrawn.
  • The annual percentage yield (APY) we advertise is based on the assumption that interest will remain in the account until maturity.
  • Interest is calculated using the daily balance method, which applies a daily periodic rate to the account each day.

Fees and rates

Additional deposits

  • Additional deposits can be made to existing variable rate CDs.

Early withdrawal penalties

  • 90 days interest on accounts that mature in less than 2 years.
  • 181 days interest on accounts that mature in 2 or more years.


  • Certificates of deposit and all other deposit accounts at Think are FDIC insured.


Traditional IRAs

  • To contribute, you must be under age 72 1/2 and have earned income.
  • Contribution limits are subject to change yearly by the IRS.
  • Contributions may be tax deductible.
  • Earnings grow tax-deferred.
  • Distributions are required to be taken beginning the year you reach age 72 1/2.
  • Generally, taxes must be paid on all distributions.

Roth IRAs

  • No age limit to contribute, but you must have earned income.
  • Contribution limits are subject to change yearly by the IRS.
  • Contributions are not tax deductible.
  • Earnings grow tax free.
  • Distributions after the initial 5 years are typically tax-free.
  • Distributions are not required.