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| Roth IRA CDs |
| Roth
IRA CD Rates |
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| Terms
| Rates
| | | $1,000-$49,999 | $50,000 + |
| 12
Month IRA | |
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| 24
Month IRA | |
|
| 36
Month IRA | |
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Features
- The
2007 contribution limit is $4,000, with a Catch-up
contribution of $1,000 for IRA owners over the
age of 50
- The
2008 contribution limit is $5,000, with a Catch-up
contribution of $1,000 for IRA owners over the
age of 50
- The
earnings in your Roth IRA are tax-free
- Receive
tax-free distributions after age 59½. Unlike traditional IRAs, there is no requirement
that you have to take distributions from your Roth IRA at any age**
- You
can continue to contribute to your Roth IRA after age 70½ as long as your earned
income exceeds your Roth IRA contribution
- You
can also take advantage of the superior rates you will receive and rollover funds
from your existing traditional IRA or Roth IRA. (Certain rules apply when converting
funds from an existing IRA)
|
**
Principle and dividends are tax free upon withdrawal, however the IRA must be
in place for five years and you must be at least 59½ years of age, or the withdrawal
must be used for a first-time home purchase (lifetime limit of $10,000 per individual),
qualified higher education expenses, certain medical expenses, certain other uses,
or in the event of disability or death. Other withdrawals made prior to age 59½
maybe subject to an additional IRS early withdrawal penalty in additional to ordinary
income taxes. |
Note: Nexity Bank does not offer tax advice and suggests that you consult with
your tax advisor to determine which IRA is the best investment for your specific
situation. For more information, you may also call 1-800-TAX-1040. |
Customer
Service
If you have questions, just call Toll Free 1-877-738-6391
and speak to a Customer Service Representative or e-mail us at customerservice@nexitybank.com
|
Apply Now!
Annual
Percentage Yield (APY) is accurate as of 5/17/2008 and is subject to change
daily.
Fees could reduce earnings. CDs subject to interest penalty for early
withdrawal. Posted interest rates are available only on personal accounts of less
than $250,000. |
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