Banking Together: We are pleased to announce legal approval for the merger of First Merchants Bank and Level One Bank. Learn More.

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Individual Retirement Accounts (IRAs)


Open our CD IRA and get a fixed rate of return, within a specified time frame of your choice, to meet your retirement goals.


  • Receive a fixed rate of return
  • Choose from a range of terms to best fit your short-term and long-term goals
  • FDIC insured to the maximum allowable by law
  • Available in Roth or Traditional IRAs
  • Low minimum opening balance
  • No annual fee

Minimum Deposit to Open

  • $500.00

Withdrawal Penalty

A penalty for early withdrawal may be imposed and is based on the term of the CD. An early withdrawal penalty may reduce principal. Tax penalties may be imposed in addition to early withdrawal penalties. Fees may reduce earnings on the account.

See the withdrawal penalties below:

  • Up to 1 Month: All simple interest earned with a minimum penalty of 7 days simple interest1
  • 2-3 Months: 30 days simple interest
  • 4-9 Months: 90 days simple interest
  • 10-24 Months: 180 days simple interest
  • 25 Months and up: 365 days simple interest


Certificate of Deposit accounts are set to automatically renew at maturity. You will have 10 calendar days after the maturity date to withdraw funds without a penalty. The account will not renew if funds are withdrawn on the maturity date or if we receive written notice on or before the maturity date of the intention not to renew. If we are notified of your intent to not automatically renew, interest will not be paid after the maturity date.


Money Market IRA

Our Money Market IRA is an interest earning Money Market Account with the tax advantages of an IRA.


  • Tiered interest rates – the higher the balance, the higher the rate - view tiered rates
  • FDIC insured to the maximum allowable by law

Minimum Deposit to Open

  • $50.00

Monthly Service Fee

  • $10.00

How to Avoid Monthly Service Fee

  • No monthly service fee with a minimum daily balance of $2,000.00

Level One Bank reserves the right to change these accounts at any time. Fees may reduce earnings on the account. 1Simple interest is the interest paid with respect to each period of time and does not compound. Please consult with a tax professional for guidance regarding contributions and distributions to your Traditional or Roth IRA's. Contribution limits may apply. You must be under the age of 70 1 to enroll in a Traditional or Roth IRA. Contributions to a Traditional IRA may be tax free. To contribute to a Roth IRA, you or your spouse must have earned income, and your modified adjusted gross income (MAGI) may not exceed certain limits. Distributions (withdrawals) may be subject to additional tax penalties. This account is limited to six preauthorized, telephone, fax or on-line withdrawals per calendar month. Other transaction costs may apply. Fees are subject to change. Standard FDIC rules apply.

How can we help?

Call and speak with a customer service representative or visit our Customer Support Center to submit a request for assistance, chat with our team, and view frequently asked questions. 


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