Roth IRAs may be a good choice if you are at or below the Modified Adjusted Gross Income (MAGI) limits to make a contribution, if you are seeking tax-free distributions in retirement, want to avoid required minimum distributions (RMDs) beginning at age 70 ½, or feel you will be in the same or higher tax bracket at retirement.


Roth IRA Details

  • Contributions to a Roth IRA are NOT tax deductible
  • Account holders must have earned income to make a contribution
  • The interest earned on a Roth IRA is tax free if certain requirements are met
  • Account holders can have access to their principal at any time without an IRS penalty
  • Individuals with a Roth IRA can continue to contribute to their IRA even after age 70 ½ if they have earned income
  • Individuals with a Roth IRA are NOT required to take minimum distributions at age 70 ½
  • Investments are made into a Certificate of Deposit
IRA 18 Month CD Account Quick Facts
Minimum Balance to Open $1,000
Minimum Balance to Obtain APY* $1,000
Interest Rate 2.50%**
APY* 2.51%**
Compound Periods Per Year 2
Interest Paid Maturity
Transaction Limits No deposits or withdrawals may be made after account creation.
Monthly Fee $0
Statement Frequency This account does not include statements.
*Annual Percentage Yield. Accurate as ofJanuary 6, 2023
**Variable rate. Rates may change after the account is opened.
Account Details