A smart way to plan for tomorrow is an
Individual Retirement Account. Our IRA's earn high interest, which can produce a
substantial return upon retirement. An IRA may offer tax incentives as well.
Thumb National offers a variety of IRA's. Contact one of our IRA
Specialists and let them help you pick the right investment.
Rates are posted for your convenience. They are
subject to change without notice. To verify rates, please contact
the bank.
Please see your local office for rate
specials.
| Term |
Interest
Rate |
| 1 Year
IRA |
3.00% A.P.Y. |
| 9
Month IRA |
2.02% A.P.Y. |
| 15 Month IRA |
3.11% A.P.Y. |
| 18 Month IRA |
3.20% A.P.Y. |
| 2 Year IRA |
3.25% A.P.Y. |
| 30 Month IRA |
3.40% A.P.Y. |
| 3 Year IRA |
3.51% A.P.Y. |
| 4 Year IRA |
3.75% A.P.Y. |
| 5 Year IRA |
4.00% A.P.Y. |
Penalty for early withdrawal. Annual Percentage Yields
effective November 18, 2008 and subject to change thereafter.
Traditional IRA This is an
account which allows you to defer taxes on your earnings until they are
withdrawn. Also, certain contributions are tax deductible in the year they are
made.
Roth IRA This account is a nondeductible IRA. The earnings you receive
will allow you to grow your nest egg at a faster pace than taxable investments.
The best part about the Roth IRA is that it offers tax-free distributions if you
follow certain requirements. That means the money you withdraw is yours alone
and does not have to be included as income at tax time. No other investment
product allows you this type of tax-free benefit.
Educational IRA (CESA) This account is a nondeductible account that
features tax-free withdrawals for a very specific purpose - a child's education
expenses. Educational distributions are permitted from Traditional and Roth
IRA's as well, but the crucial difference is that while qualified education
distributions from these IRA's are penalty tax free, the same distributions from
an Educational IRA are penalty free and tax free.
Other IRA Information The following information applies to all of the
IRA's that Thumb National Bank & Trust Co. offers:
