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Englewood Bank - Retirement Planning
RETIREMENT PLANNING

Individual Retirement Accounts

Designed to help you accumulate the nest egg you need for your golden years - or - to manage your retirement rollover account.

A traditional IRA is an account that allows you to defer taxes on your earnings until they are withdrawn. Certain contributions may be tax deductible in the tax year they are made. Deductibility of your contribution is based on IRS guidelines. All earnings on your traditional IRA remain tax deferred until you make withdrawals, which are taxed as income during the tax year of their withdrawal.

IRA Certificates of Deposit
  • $50.00 minimum deposit

  • Interest compounded every 3 months

  • No opening fees of any kind

  • Maturities of one to five years

  • Semi-annual statement provided


Early time deposit contract termination penalties and/or administrative fees apply to IRA Certificates of Deposit. The bank reserves the right to enforce the full term of any time deposit contract. If early contract termination is agreed to by the bank, the penalties and/or administrative fees would be applied as disclosed within the pertinent documents at date of issue.


   
   
     
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