Roth IRA CD

A Roth IRA can be a great retirement choice if you would rather pay taxes now and receive tax-free interest at retirement.

A Roth IRA grows tax-free and all distributions made after retirement are not taxed.

Plus, there are no age limits for contributions or distributions.

• $1,000 opening deposit
• $6,500 maximum annual contribution ($7,500 for individuals age 50 or older)
• Interest accrues daily
• Interest earnings posted at maturity
• CD penalty for early closure
• Qualified withdrawals may be made tax- and penalty-free

To open a Roth IRA, visit your favorite i-bank branch. 

Contact i-bank for CD options and current interest rates and annual percentage yields.

Terms: You must deposit at least $1,000 to open this account.  The interest rate for this account is fixed. Your interest rate and annual percentage yield may change at our discretion.  Interest will be compounded annually.  Interest will be credited annually.  We use the daily balance method to calculate the interest on your account.  This method applies a daily periodic rate to the principal in the account each day.  A penalty will be imposed for withdrawals before maturity.  This account will automatically renew at maturity.  This account will not renew if you withdraw the funds on the maturity date or if we receive written notice from you on or before the maturity date of your intention not to renew.  Each renewal term will be the same as the original term, beginning on the maturity date.  The interest rate will be the same as the current rate being paid on this type of product.

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