Ponce De Leon Federal Bank offers Traditional, Roth and Education IRA options to fit your needs. For more information on which Individual Retirement Account (IRA) is perfect for you, please contact us.
Individual Retirement Accounts
Available as Savings Accounts and as Certificates of Deposits with terms from 1 to 60 months.
1-6 months open with a minimum of $500. 12-60 months open with a minimum of $1,000.
Additional contributions are not permitted during the term of the Certificate of Deposit.
Annual contributions subject to limitations.
Your money grows on a tax deferred basis
You make contributions to your IRA and deduct them on your taxes
Required Minimum Distributions begin at age 70 ½
Tax-free accumulation of funds.
Flexibility to withdraw your money without age limitations (must meet qualified distribution requirements).
Coverdell Education Savings Account
Contributions are tax-deductible.
Withdraw without tax penalty if used for certain education purposes.