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 59½
All First Northern Bank & Trust IRAs are invested in First Northern Bank & Trust CDs.
See Also: Mortgage Rates | Consumer Loan Rates | Deposit Rates
| Account Type | Annual Percentage Yield (APY) | Interest Rate | Minimum Deposit to Open Account | Minimum Balance* to Obtain APY |
|---|---|---|---|---|
| 91 Days CD*** | 0.20% | 0.20% | $500.00 | $500.00 |
| 182 Days CD*** | 0.35% | 0.35% | $500.00 | $500.00 |
| 1 Year CD*** | 0.45% | 0.45% | $500.00 | $500.00 |
| 2 Year CD*** | 0.70% | 0.70% | $500.00 | $500.00 |
| 2½ Year CD*** | 0.85% | 0.85% | $500.00 | $500.00 |
| 3 Year Adjustable*** AVAILABLE | 0.36% | 0.36% | $500.00 | $500.00 |
| 4 Year CD*** | 1.25% | 1.24% | $500.00 | $500.00 |
| 5 Year CD*** | 1.60% | 1.59% | $500.00 | $500.00 |
| 5 Year Kid's CD*** | 1.90% | 1.89% | $500.00 | $500.00 |
| 1½ Year Variable IRA CD**,***** | 0.45% | 0.45% | $250.00 | $250.00 |
| 5 Year Royal CD**** | 1.90% | 1.89% | $500.00 | $500.00 |
| SPECIALS | ||||
| 2½ Years Step Up CD****** | 0.80% | 0.80% | $500.00 | $500.00 |
| 17 Month Step Up CD******* | 0.90% | 0.90% | $500.00 | $500.00 |
* Daily Balance (The amount of principal in the account each day)
** The rate may change after the account is opened.
*** A penalty will or may be imposed for early withdrawal of funds.
**** You must have a First National Royal or Royal Blue Checking account for this CD.
***** Variable interest rate changes at each 6 month anniversary date. The new rate will be the advertised 1½ year rate at that time.
******This special 30 month step up CD provides a single opportunity for the customer to change the rate to that being offered on the Bank's regular 30 month CD. A single opportunity also exists to increase the initial deposit. The final maturity of the special step up CD, with these options, does not change from the original 30 month term. This account will automatically renew, at maturity, into a regularly offered 30 month CD, with no provision for a rate step up or the ability to make an additional deposit during the term.
*******This special 17 month step up CD provides a single opportunity for the customer to change the rate to that being offered on the Bank's regular 2½ month CD. A single opportunity also exists to increase the initial deposit. The final maturity of the special step up CD, with these options, does not change from the original 17 month term. This account will automatically renew, at maturity, into a regularly offered 17 month CD, with no provision for a rate step up or the ability to make an additional deposit during the term.
Fees could reduce the earnings on the account.
Initial deposit account disclosures are available upon request. Please contact us at (610) 826-2239 for copies or more information.
MEMBER FDIC
Business Banking | Personal Banking | Current Rates | Financial Tools | Learning Center & Resources
Locations | Contact Us | Site Map | Privacy Policy | Home | USA Patriot Act – Click Here
First Northern Bank & Trust | Fourth Street & Lafayette Avenue Palmerton, PA 18071
(800) 344-2274 | (610) 826-2239 Local | info@fnbpalmerton.com
©2012 First Northern Bank & Trust. All rights reserved. | Bank Website Design by SeS.