Principal Bank is a subsidiary of Principal® and specializes in FDIC-insured individual retirement accounts (IRAs).1
Achieve your financial goals
Minimize your investment risk with products from Principal Bank. We’re an online bank that offers low-risk savings accounts, money market accounts and certificates of deposit (CDs) within IRAs that earn interest and are FDIC-insured up to $250,000 per depositor.
1Principal Bank® Automatic Rollover IRA:
- Annual fee — $15 charged on the anniversary date of account opening after start of first year. Fee waived for balances $10,000 and above.
- Closing fee — $30. Waived if funds transfer to a Principal Bank or Principal Financial Group® (Principal®) product.
- Funds placed in an interest-bearing savings account.
- Funds held in a Principal Bank® IRA are FDIC-insured up to $250,000 per depositor.
- Confirmation mailed once IRA is set up.
Bank products and services are provided through Principal Bank®, member FDIC. Principal Bank is a member of Principal Financial Group® (Principal®), Des Moines, IA 50392. Insurance products and plan administrative services provided through Principal Life Insurance Co. Securities offered through Principal Securities, Inc., 800-547-7754, member SIPC and/or independent broker-dealers. Annuities, insurance, retirement plans, mutual funds and other securities are not insured by the FDIC, are not obligations or deposits for Principal Bank® nor guaranteed by Principal Bank, and involve risk, including possible loss of the principal invested. Principal Life, and Principal Securities are members of the Principal Financial Group®, Des Moines, Iowa 50392.