|
$500 |
Daily |
|
$500 |
Daily |
|
$500 |
Daily |
|
$500 |
Daily |
|
$500 |
Simple |
|
$500 |
Simple |
|
$500 |
Simple |
Certificates of Deposit
CDs are for people who want a high rate of interest, the security of a guaranteed rate and a fixed term on their deposit.
The Facts:
- Several terms available
- High interest rate that is guaranteed for term of certificate
- Security of knowing your interest is insured, with a guaranteed and known return
- Interest is compounded daily for terms of 1 year or less
- Early withdrawal penalties do apply
- No deposits or withdrawals of principal allowed; interest may be withdrawn
- $500 required to open the account
- Deposits insured by the FDIC
IRA
For people under the age of 701/2 who want a retirement savings program with the added tax benefits allowed by law.
The Facts:
- Interest earned is tax deferred until the time you withdraw it for retirement; then you are usually in a much lower tax bracket
- IRA deposit may be tax deductible; consult your tax advisor
- No fees for either distributions or transfers
- Year-end statement keeps you abreast of your investment's value
- Bank Deposits insured by the FDIC
