IRA Savings Account

MINIMUM DEPOSIT TO OPEN INTEREST EARNED FEEs

$50

Yes

Yes, unless minimum account balances are met.

Overview

A savings account that earns interest and provides the potential tax advantages of an Individual Retirement Account (IRA) for eligible account holders1.

Key features

Earns a tiered interest rate.

  • Available in Traditional, Roth and Rollover IRA
  • May provide significant tax advantages1
  • No annual or custodial fees
  • Low opening deposit requirement
  • Ability to make ongoing contributions up to the annual limit permitted by law

Interest earned

Variable interest rate and Annual Percentage Yield (APY).

Interest compounded and credited quarterly.

Interest rate tiers: $.01 to $9,999.99; $10,000 to $24,999.99; $25,000 to $49,999.99; $50,000 and greater.
 

Fees

$3 fee per quarter if the account balance falls below $250 any day in the statement cycle.

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