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
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Contributions to a Traditional IRA may be tax deductible
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Account holders must have earned income to make a contribution
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The interest earned on a Traditional IRA is tax deferred
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Account holders cannot withdraw funds before age 59 ½ without a 10 percent early withdrawal penalty
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Withdrawal amounts are always subject to income tax regardless of age
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Individuals with Traditional IRAs cannot make contributions after the age of 70 ½
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Individuals with Traditional IRA are required to take annual distributions upon reaching the age of 70 ½
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The required minimum distribution (RMD) depends on the account holder’s age and December 31 account balance
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Fees could reduce earnings on the account
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Investments are made into a Certificate of Deposit
