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IRAs offer tax-deferred growth as well as other unique advantages for your retirement plan.  

 

 

 

IRA

Investment Savings
(Individual Retirement Account)

 

IRA

Certificate of Deposit
(Individual Retirement Account)

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:
$0-$4,999
$5,000-$9,999
$10,000-$24,999
$25,000 or more

 

 

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.

For more information or to open your Minster Bank IRA,  call 866-MINSTER or visit any branch location. We will help you choose a plan that is right for you.

Minster Bank
            
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