|Individual Retirement Accounts (IRAs) & Roth IRAs
An interest-earning account with a guaranteed fixed rate and a wide range of terms.
A retirement account that allows you to set aside money each year. Contributions may be tax deductible and earnings grow tax-deferred. Deductible contributions and earnings are taxed when withdrawn, typically at retirement. A 10% IRS penalty may apply for pre-mature withdrawals.
A type of IRA that allows you, subject to certain income limits, to set aside money each year to grow tax-deferred. Contributions may be withdrawn tax-free at any time. Earnings may be withdrawn tax-free if certain conditions are met, otherwise taxes and penalties may apply.
Opening Deposit: $1,000 minimum
From 12 to 18 months
- The rate in effect when you open the CD or when the CD renews is fixed for the term of the deposit
- Interest is compounded daily
- Interest distributions are reported to the IRS as a taxable distribution (IRS penalties may apply)
- Interest is re-deposited into your CD and is paid monthly