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.

For additional information call TeleBanco Popular®.


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