Allegiance Community Bank offers both Traditional and Roth IRA’s, allowing you the opportunity once again to choose the type which best matches your individual goals. You can either open a new IRA or transfer an existing IRA to Allegiance Community Bank and begin receiving exceptional interest rates. You can invest your IRA assets in a variety of high interest Certificates of Deposit.
Traditional IRA
- Contributions up to $5,000 annually if under age 50
- Contributions up to $6,000 annually if over age 50 & under age 70 ½
- Contributions may be tax deductible. Consult your tax advisor.
- Penalty-free withdrawals after age 59 ½, and for certain IRS exceptions.
- Early withdrawals (before age 59 ½) may be subject to IRS and Bank penalties.
- Minimum Distributions Required upon reaching age 70 ½
- No contributions allowed after age 70 ½
- Rollovers are eligible from Traditional IRA Plans, Qualified Retirement Plans, and other qualified employee sponsored plans.
Roth IRA
- Contributions up to $5,000 annually if under age 50
- Contributions up to $6,000 annually if over age 50
- Contributions are not tax deductible. Consult your tax advisor.
- Penalty-free withdrawals after age 59 ½, and for certain IRS exceptions.
- Early withdrawals (before age 59 ½) may be subject to IRS and Bank penalties.
- No Minimum Distribution Requirement
- Early withdrawals (before age 59 ½) may be subject to IRS and bank penalties.
- Contributions are allowed as long as investor has earned income and meets income requirements.
- Rollovers are eligible only from other Roth IRA Plans.
IRA Certificates of Deposit
- Required Minimum to Open $1,000.00
TERM |
Rate |
APY* |
| 1 Month | 0.74 | 0.75 | | 3 Month | 1.00 | 1.00 | | 6 Month | 2.48 | 2.50 | | 9 Month | 2.72 | 2.75 | | 12 Month | 2.97 | 3.00 | | 15 Month | 3.12 | 3.15 | | 18 Month | 3.12 | 3.15 | | 24 Month | 3.12 | 3.15 | | 30 Month | 3.16 | 3.20 | | 36 Month | 3.26 | 3.30 | | 48 Month | 3.31 | 3.35 | | 60 Month | 3.70 | 3.75 |
- No Minimum Balance to obtain APY*
- Simple Interest paid at maturity for 1 and 3 month certificates. Interest Credited and compounded quarterly for all other certificates.
*Annual Percentage Yield (APY). APY is effective as of 9/23/2008. Penalty for Early Withdrawal. Fees could reduce earnings.
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