Thursday, 29.06.2017, 00:07
Welcome Guest | RSS
Site menu
Section categories
USA [11]
Banks of the USA
BidVertizer Ads
AdHitz
Main » Articles » Banks of the USA » USA

A.J. Smith Federal Savings Bank of America, Midlothian, USA

A.J. Smith Federal Savings Bank of America, Midlothian, USA







 

IRA Certificates of Deposit

We offer:

  • Traditional

  • Roth

  • Education IRA's

Even if your retirement is a long way off, plan for your future now with an IRA Certificate of Deposit.

IRA STATEMENT SAVINGS

Not sure where to park your IRA funds?  Why not deposit your IRA to our IRA Savings Account which allows the flexibility of deposits and distributions when you want to make them.

  • Minimum opening deposit - $10.00

  • Minimum daily balance of $10.00 in the account each day to earn and obtain the annual percentage yield.

  • Your interest rate and annual percentage yield may change.  At our discretion, we may change the interest rate for your account at any time.

  • We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the collected principal in the account each day.

  • Interest for your account will be compounded daily and distributed quarterly.

  • Additions and distributions are permitted at any time.

3 Month - 60 Month Fixed Rate IRA Certificate

  • Minimum opening balance - $250.00

  • We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

  • Interest for your account will be compounded depending on which product type you choose.

The compounding frequencies are as follows:

  • Daily compounding - this method adds interest earned to the principal in the account each day in order to calculate the next day's interest earned.

  • Monthly compounding - this method adds interest earned to the principal in the account each month in order to calculate the next month's interest.

  • Quarterly compounding - this method adds interest earned to the principal in the account each quarter in order to calculate the next quarter's interest.

  • True simple - this method calculates interest on the original principal only.

  • Interest for your account can be distributed monthly, quarterly, or at maturity, depending on the product type selected.

  • You must maintain a minimum balance of $250.00 in your account every day to obtain the annual percentage yield.

  • The annual percentage yield assumes interest remains on deposit until maturity. A withdrawal will reduce earnings.

  • After the account is opened, you may not make deposits into the account until the maturity date.

  • If you withdraw any principal before the maturity date, a penalty equal to 182 days loss of interest will be charged to your account, whether earned or unearned. In the case of Certificates of Deposit of one year or less, a penalty equal to 91 days loss of interest will be charged to your account, whether earned or unearned.

  • This account will be automatically renewed at maturity for a like term unless otherwise specified in the Certificate. You have a grace period of seven (7) calendar days after the maturity date to withdraw the funds without being charged a penalty (see additional IRS regulations for IRA accounts).

The following IRA products compound interest daily and pay monthly or quarterly depending upon customer choice: 
12 Month
18 Month
30 Month
36 - 59 Month
60 Month

The following IRA products are true simple and pay monthly or quarterly depending upon customer choice:

91 Days

 

 

 

182 Days

 

 

 

12 Month

 

*

 

36 Month

 

*

 

60 Month

 

*

 

The following IRA product compounds and pays interest monthly or quarterly depending upon customer choice:

36 Month

 

*

 

*Products no longer offered at A.J. Smith Federal Savings Bank.

THE FOLLOWING IRS REGULATIONS
PERTAIN TO ALL IRA ACCOUNTS:

  • In addition to an early withdrawal penalty assessed by A.J. Smith Federal Savings Bank, the IRS also assesses a penalty for those individuals closing an IRA CD before the age of 59-1/2.

  • Disbursements from your IRA must begin at age 70-1/2.

  • Investments may be tax deductible if you qualify.

  • The maximum yearly contribution for an individual is $3,000.00. This may vary according to your adjusted gross income shown on your income tax return.



Source: http://www.ajsmithbank.com/savings.htm
Category: USA | Added by: Lexu (18.01.2012)
Views: 2661 | Tags: SUPPORT, loan, credits, services, Trust, investment, money, Products | Rating: 0.0/0
Total comments: 0
Only registered users can add comments.
[ Registration | Login ]
Statistics

Total online: 1
Guests: 1
Users: 0
Search
Partners Links
  • Life on tick
  • Ads
    )))

    Copyright MyCorp © 2017Free web hostinguCoz