PERSONAL BANKING
Individual Retirement Account
Retirement…
It may seem in the distant future, but planning for retirement should begin in the present. 1st International Bank's Individual Retirement Account can help you plan for a bright retirement future.
Individual Retirement Account Information:
| How much do I need to open an account? |
$250.00 |
| How long do I have to keep the money in the account? |
- 18 months
- 1, 2, or 5 years
|
| May I make deposits to this account? |
No |
| May I make withdrawals from this account? |
Yes, if age is 59 1/2 or older |
| What happens when the account matures? |
Automatically renews with same term at current rate. |
| What are my interest payment options? |
Annually |
| Other Information |
Individuals must have earned income to be eligible. Taxes on interest are deferred until the interest is collected at time of withdrawal. Rates vary. Contact a new account representative for more information. All IRA's are subject to substantial penalty for early withdrawal.
|
First International Bank also offers ROTH IRA's with a 5 year term. A ROTH IRA can be opened with $250.00. ROTH IRA's have a penalty of 6 months if cashed in before maturity.
For further information, please call 1-800-996-5554 or refer to our contact page
