|
|
 |
|
 |
| Invest
in your future with us. Start an IRA with only $100.00. We offer
regular IRA's, Roth IRA's, and Educational IRA's, whichever meets
your needs.
| IRAs |
| Minimum
Deposit to Open |
| Term |
|
| 12 Month |
$100.00 |
| 18 Month |
$100.00 |
|
| Minimum
Balance to obtain APY* |
| Term |
|
| 12 Month |
$100.00 |
| 18 Month |
$100.00 |
|
| Interest
Rate** |
| Term |
|
| 12 Month |
1.73% |
| 18 Month |
1.88% |
|
| Annual
Percentage Yield** |
| Term |
|
| 12 Month |
1.75% |
| 18 Month |
1.90% |
|
| Account
Terms |
- The interest rate for your
account will be paid until the maturity of date of your
certificate.
- Interest is compounded
daily and is credited to your account monthly.
- Interest begins to accrue
on the business day you deposit non-cash items (For
example, checks).
- This account will
automatically renew at maturity. You will have seven (7)
calendar days from the maturity date to withdraw your
funds before being charged a penalty.
- We use the daily balance
method to calculate interest on your account. This method
applies a daily periodic rate to the principal in the
account each day.
- Exception: IRA 12 and 18
month certificates additions permitted in any amount at
anytime.
- All Retirement accounts closeouts will be assessed a $25 fee.
- All collection items are
$25 per item.
- IRS may impose additional penalties for early withdrawals for ages under 59 ½.
|
|
IRA Disclosure – For Traditional IRAs – If you withdraw before age 59 ½ you may be subject to a 10% early withdrawal penalty unless the following exceptions apply: qualified higher education expenses; qualified first home purchase (lifetime limit of $10,000); certain major medical expenses; certain long term unemployment expenses; disability; or substantially equal periodic payments.
For Roth IRAs – Roth IRA contributions can always be withdrawn at any time without penalty. Withdrawals of any earnings before age 59 ½ or before the 5 year aging requirement has been satisfied, may be subject to a 10% early withdrawal penalty unless the following exceptions apply: qualified higher education expenses; qualified first home purchase (lifetime limit of $10,000); certain major medical expenses; certain long-term unemployment expenses; disability; or substantially equal periodic payments.
We suggest you consult your personal tax or legal advisor before making tax or legal-related investment decisions.
|
Rates Effective October 24, 2009
*Daily Balance (the amount of principal in
the account each day).
Annual percentage yield assumes that interest remains on deposit.
**Rates subject to change without notice. Please call 201 339-4600 for
current rates.
*** Please see the Individual Retirement Account (IRA) Custodial Agreement and Disclosure for
additional details and information. |
|
|
|
