Interest is compounded daily and credit monthly.
Penalty may be imposed for early withdrawal. Rate and offer subject to change without notice. Please consult your tax advisor for details. The primary benefits of a VirtualBank Traditional IRA include the tax-deferred growth of your money and the possible tax deductibility of your contributions. Even if contributions are not deductible, any wage earner, under 70 years old, at any income level, can open a Traditional IRA and enjoy tax-deferred growth.