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IRAs

IRAs offer tax-deferred growth as well as other unique advantages for your retirement plan. Minster Bank offers a variety of retirement options and we can help you navigate what is your best for your situation.

If you have a question and want to talk with a live person you can talk to and trust, we are a phone call away.

 



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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.












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