IRA Regular

• Guaranteed interest rate for the term you choose.
• Minimum initial deposit: $500.
• Available terms: 1, 2, 3, 5, 7, and 10 years.
• Principal and Interests are insured by the FDIC.

Disclosures:

• The interest rate in a fixed-term deposit is guaranteed for the term of the deposit. Once the instrument is opened, no additional deposits or withdrawals are allowed prior to the maturity date.
• Penalties for withdrawals or cancellations before maturity, 180 days interest.
• Penalties from the Treasury Department may apply.
• Interest is computed daily on 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.
• When the account opening or the deposit is made through cash or non-cash items (i.e. checks), interest begins to accrue on the working day in which the transaction takes place.
• Deposits are renewed automatically at maturity in periods of equal duration. There are no grace periods for renewals.
• Processing fee: $5 per instrument on withdrawals and returns for excess of contributions; $25 per instrument for roll overs to an eligible institution.

IRA accounts are only available for current residents of the Commonwealth of Puerto Rico.  IRA accounts requested through Internet Banking must be paid through an electronic debit. Payments in cash, check or money order will only be accepted at Banco Popular branches.