Treasurer of the State of Iowa

Public Funds Rates

Minimum Rates for Time Deposits
Effective Date: December 9, 2014
 
 
These rates of interest have been determined by a committee of the state of Iowa to be the minimum interest rates that shall be paid on public funds deposited in approved financial institutions. To be eligible to accept deposits of public funds of the state of Iowa, a financial institution shall demonstrate a commitment to serve the needs of the local community in which it is chartered to do business. These needs include credit services as well as deposit services. All such financial institutions are required to provide the committee with a written description of their commitment to provide credit services in the community. This statement is available for examination by citizens.
 

 

Time Deposit Rates

Period

Minimum Rates

7 - 31 days

0.05%

32 - 89 days

0.05%

90 - 179 days

0.05%

180 - 364 days

0.05%

365 - 397 days

0.05%

Over 397 days

0.10%

 

 
 
 
Maximum Rates for Unpaid Warrants (74A.2) & Special Assessments (74A.4)
 

Maximum Rates

Unpaid Warrants

6.00%

Special Assessments

9.00%

 
 
 
 
 
 
 
 
 
Recommended Rates For Public Obligations (74A.3) & School District Warrants (74A.7)
 
A rate equal to 75% of the Federal Reserve monthly published indices for U.S. government securities of comparable maturities. 
 
 

 

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Treasurer of State
Michael L. Fitzgerald
State Treasurer's Office
Capitol Building
Des Moines, IA 50319

Phone: (515) 281-5368
Fax: (515) 281-7562
treasurer@iowa.gov
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