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  3. Principal Bank®

Principal Bank®

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.

Traditional and Roth IRAs offer the features and tax advantages IRAs are known for, with the added security of FDIC insurance. Money market accounts or CDs can be held within either of these types of IRAs.
Retirement funds from a past employer’s retirement account may have automatically rolled over into an FDIC-insured savings account IRA if you left employment and had less than $5,000 in your retirement account or the employer decided to close the retirement plan. This account is meant to be a short-term parking spot until you decide what to do with your savings. These accounts aim to minimize investment risk and preserve savings until you find the right destination for your money.

Have a Principal Bank IRA?

You can log in to access account information online.

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Contact Principal Bank

Find out how to contact us if you have a question or need to mail something to Principal Bank.

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Retirement Plan Sponsors

Principal Bank offers automatic rollover services that can help you save time, possibly save money, and reduce the fiduciary responsibility for former employees' small account balances or plan termination.

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Sign up for online statements

It's easy. After logging into your account, click "Your Profile," and choose to receive online statements through "Subscriptions & Email Preferences."

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Related Forms

Online Statements Disclosures

Member FDIC.

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.