IRA 18 Month CD Account Quick Facts
| Minimum Balance to Open | $1,000 |
| Minimum Balance to Obtain APY* | $1,000 |
| Interest Rate | 4.10% |
| APY* | 4.14% |
| Compound Periods Per Year | 2 |
| Interest Paid | June 15th and December 15th of each year |
| Monthly Fee | $0 |
| Statement Frequency | Annually |
*Annual Percentage Yield. Accurate as of April 9, 2024
Account Details
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Contributions are NOT tax deductible.
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Individuals must have earned income and file a tax return to make a contribution.
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The earnings (interest) on the contribution accumulate tax-free as long as the five-year waiting period has been satisfied and the qualifying distribution rules have been met.
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Individuals can have access to the principal at any time without an IRS penalty.
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There is no minimum and maximum age limit as long as individuals, or their spouse, have earned income and file a tax return.
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Modified Adjusted Gross Income (MAGI) limits apply for eligibility to contribute.
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Individuals are NOT required to take annual minimum distributions.
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Fees could reduce earnings on the account.
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Investments are made into a Certificate of Deposit.
