Certificates
of Deposit and
Individual Retirement Accounts
A brief description of various IRA
products:
Traditional
IRA:
An IRA may offer you a tax advantage to set aside money for retirement.
Depending on the circumstance, you may be able to deduct part or all of
the IRA contribution on your income tax.
· Tax-deferred earnings produce higher growth
· No penalty for early withdrawals for higher
education and first-time homebuyers
Roth IRA:
The Roth IRA is a non-deductible account that features tax-free
withdrawals for certain distribution reasons after a five-year holding
period.
· Available even if you are covered by a
retirement
plan
· Liberal withdrawal provisions after age 59½All First National Bank of Palmerton IRAs are invested in First National
Bank of Palmerton CDs.
The APY
is accurate as of April 24, 2008.
|
Account
Type |
Annual
Percentage Yield (APY) |
Interest
Rate |
Minimum
Deposit to Open Account |
Minimum
Balance* to Obtain APY |
| 91 Days CD*** |
2.25% |
2.23% |
$500.00 |
$500.00 |
| 182 Days CD*** |
2.75% |
2.73% |
$500.00 |
$500.00 |
| 1 Year CD*** |
3.10% |
3.06% |
$500.00 |
$500.00 |
| 2½ Years CD*** |
3.25% |
3.21% |
$500.00 |
$500.00 |
| 5 Years CD*** |
3.35% |
3.31% |
$500.00 |
$500.00 |
| 1½ Year
Variable IRA
CD**** |
3.10% |
3.06% |
$250.00 |
$250.00 |
| Royal CD *** 91 Days** |
2.25% |
2.23% |
$500.00 |
$500.00 |
|
|
|
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* Daily Balance (The amount of principal in the account each day)
** You must have a First National Royal or Royal Blue Checking account
for this CD.
*** A penalty will or may be imposed for early withdrawal of funds.
**** Variable interest rate changes at each 6 month anniversary date.
The new rate will be the advertised 1½ year rate at
that time.
Initial deposit account disclosures are available upon request. Please
contact us for copies.
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