IRAs
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IRA Investment Savings
(Individual Retirement Account)
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IRA Certificate of Deposit
(Individual Retirement Account)
|
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This savings plan is ideal if you are looking for... |
A flexible, high-earning savings account for retirement. Ideal for intermittent deposits or temporary holding account for rollovers |
Safety & a guaranteed rate of return for retirement |
How is interest compounded? |
Daily |
Daily |
How is interest determined? |
Variable Rate Based on tiers: |
Fixed Rate Based on tiers:$1,000-$9,999 $10,000-$99,999 $100,000 or more |
How often is the interest paid? |
Monthly |
Quarterly |
How often are distributions paid? |
Semi-annually or annually if balance is under $10,000. Monthly, Quarterly, Semi-Annually, or Annually if balance is $10,000 or more |
Semi-annually or annually if CD is under $10,000. Monthly, Quarterly, Semi-Annually, or Annually if CD is $10,000 or more |
What are the terms or time frame required? |
None required |
6 months to 5 years |
What is the minimum to open the account? |
$25 |
$1,000 |
Any charges? | $5 per withdrawal if more than 3 per year | Interest penalty may apply for early withdrawal. Special withdrawal privileges if age 59 1/2 or older. |