IRA Regular

• Fixed rate
• Principal and interest rates secured by FDIC
• Minimum initial deposit $500
• Available terms: 1, 2, 3, 5, 7 and 10 years

Additional Information

• Once the instrument is opened, no additional deposits or withdrawals are allowed prior to the maturity date.
• Penalties for withdrawals or cancellations before maturity are the equivalent to180 day interest. Penalties from the Treasury Department may apply.
• Interest is computed each day using the daily balance and accredited monthly.
• The method used to compute the interest is the daily balance. This method applies to the account's principal daily periodic rate.
• If deposits are made or accounts opened using non-cash items (i.e. checks), interest begins to accrue on the business day on which the transaction takes place.
• It is renewed automatically at maturity in periods of equal duration for the current interest rate at that time. There are no grace periods for renewals.
• Processing fee is $5 per instrument on withdrawals, cancellations and returns for excess of contributions; and $50 per instrument for rollovers to an eligible institution.
• Deposit Instruments that are subject to legal process or garnishment, or to a request to hold or turn over your funds which are received from a Governmental Authority (including but not limited to the Department of the Treasury and the Federal Internal Revenue Service) or through court order, a fee of $50 may apply.
• Please refer to the IRA Description and Disclosure Form for more information concerning, among other things, how the interest is calculated.