AllPoint
 
 

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For Roth IRAs – Roth IRA contributions can always be withdrawn at any time without penalty.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.

 

 

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