Personal Overview > Savings > Individual Retirement Account

As tax-sheltered retirement plans for wage-earners, Individual Retirement Accounts from Morgan Bank are a sound investment for your future. If you are under age 70-1/2 for the tax year and have compensation, you may establish and make contributions to an IRA. These plans enable certain taxpayers to deduct contributions from federal income taxes and keep them deferred until withdrawn, as is interest earned on an IRA.

The following information describes our five IRA plans:

• 6-Month CD- $500 minimum deposit to open, fixed interest rate
• 12-Month CD - $500 minimum deposit to open, fixed interest rate
• 18- Month - $50 minimum deposit to open, additional deposits allowed with no minimum required, variable interest rate
• 30- Month CD - $500 minimum deposit to open, fixed interest rate
• 48- Month CD - $500 minimum deposit to open, fixed interest rate
• 60- Month CD- $500 minimum deposit to open, no additional deposits allowed, fixed interest rate