Individual Retirement Accounts

A Traditional, Roth or SEP IRA is flexible and safe. Choose from several methods of contribution, and you can roll over assets from another pension or retirement plan, while maintaining tax-deferred status on your funds in most cases. An IRA can provide additional tax benefits. Be sure to consult your tax professional before investing.

Term

32 Days - 5 Years

Minimum to Open

$25

Partial Withdrawls Allowed **

Yes

Early Withdrawal Penalty*

1/2 interest for full term. 32 day term - full interest.

Interest Compounding

at maturity / annual

Interest Calculation Method

simple

Renewals / Grace Period after Maturity to

withdraw without Penalty

Automatic Renewal 10-Day Grace Period

Contact a Personal Banker for additional information.

* Additional penalties may be applicable as required by the IRS.

** Partial withdrawals may be permitted without penalty for IRA owners aged 59½ and older.

The interest rate and annual percentage yield will not change for the term of the account. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Interest will be compounded monthly and will be credited monthly on the current balance. Under 59 1/2 bank penalty applies. 1/2 interest for full term. A withdrawal will reduce earnings.

 

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