Popular offers you Traditional and Roth IRA accounts.
An IRA, or Individual Retirement Account, is an investment tool with tax rules and maximum contribution limits set by the IRS (Internal Revenue Service).
Think of IRAs as long-term savings accounts with tax benefits. These advantages have some limitations, so it’s wise to consult with your tax advisor.
You may fund your IRA with rollovers from other IRAs, retirement plans, direct contributions or a combination of those. The FDIC guarantees IRAs up to applicable limits.
There are two main types of IRA:
Both have differing tax liabilities and benefits. Your choice will depend on your age, income, financial goals, and government requirements.
Traditional IRA | Roth IRA | |
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Tax Treatment1 |
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Eligibility |
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Withdrawals |
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We make it easy for you to begin saving for your retirement. With our 18-Month Special IRA CD, you can open your IRA with only $100. We also offer you the option of a regular CD IRA, which requires a $500 minimum deposit.
CD IRA | 18-Month Special IRA CD | |
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Term | 3 months to 10 years | 18 months |
Minimum Opening Deposit | $500 | $100 |
Renewal | Change terms at renewal or renew at the same term automatically | Automatically renews into the same term |
Additional Deposits | No additional deposits until maturity | Allows additional deposits of $100 or more during the term |
To sign-up for a Popular IRA, stop by one of our convenient branch locations.
For additional information, contact our Customer Care Center at 1-800-377-0800.
1You may be able to take advantage of certain tax savings. We do not make any representations or warranties as to a consumer’s ability to save on taxes with these products. Every individual’s tax and financial circumstances may differ. Please consult a Tax or Financial advisor to discuss individual needs and determine the appropriate product.
2Any deductible contributions and earnings you withdraw or that are distributed from your traditional IRA are taxable. Also, if you are under age 59 ½ you may have to pay an additional 10% tax for early withdrawals unless you qualify for an exception.
Source:
https://www.irs.gov/retirement-plans/traditional-and-roth-iras
3If you are under age 59 ½, you may also have to pay an additional 10% tax for early withdrawals unless you qualify for an exception.
Source:
https://www.irs.gov/retirement-plans/traditional-and-roth-iras
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