Interest earned may be added to the Time Deposit, transferred to another account, or sent directly to you. Penalties are imposed for early withdrawal. If you wish, you may use your Time Deposit to secure a low interest loan. Check out our current rates for more information. IRA Time Deposits Plan for a comfortable retirement and earn tax-deferred interest with an Individual Retirement Account.
Interest is compounded and credited quarterly.
There are no start-up costs or maintenance fees for IRA Time Deposits. You must pay taxes on the money when you start collecting. You can't deduct your contributions to a Roth IRA, but you receive all the qualified distributions Tax-Free . Under certain conditions this could work out to be a huge advantage for you. Please ask a Member Service Representative for more information.