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Terms and Rates Like Certificates of Deposit, our IRAs come with a variety of terms, from as short as seven days to as long as six years or more, and the interest rate is fixed for the term of the IRA. |
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Checking Accounts Savings Accounts Personal Asset Management Retirement Planning Loans Private Banking Insurance Electronic Banking Senior Services Youth Services Web Resources Customer Service Calculators Disclosures
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Interest on IRAs is paid annually or at maturity. Upon maturity, your IRA will be automatically renewed for the same term, but at the then prevailing interest rate. You may redeem your IRA at its maturity date without Bank forfeiture penalty, though tax penalties may apply. Like CDs, a grace period of 1 day applies for IRAs with a term of 31 days or fewer, or 10 days for those with terms longer than 31 days. Unlike CDs, you may continue to make deposits into your IRA at any time during its term.
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