IRA – Individual Retirement Accounts
Good for you! You’ve made a commitment to invest in an IRA for your future!
An IRA is an interest-bearing savings account that allows individuals to set aside money in certificates of deposit for retirement savings. Consult a tax advisor regarding your IRA eligibility and possible tax deductions**. Early withdrawal penalty may apply and will reduce earnings.
Current IRA CD terms and rates:
| Term | Rate | APY* | Minimum to Open |
|---|---|---|---|
| 6-Month | 4.21% | 4.30% | $1,000 |
| 11-Month | 3.92% | 4.00% | $1,000 |
| 12-Month | 1.24% | 1.25% | $1,000 |
| 15-Month | 2.96% | 3.00% | $1,000 |
| 18-Month | 2.62% | 2.65% | $1,000 |
| 24-Month | 2.71% | 2.75% | $1,000 |
| 36-Month | 3.44% | 3.50% | $1,000 |
| 48-Month | 3.59% | 3.65% | $1,000 |
| 60-Month | 3.92% | 4.00% | $1,000 |
| Term | Rate | APY* | Minimum to Open |
|---|---|---|---|
| 6-Month | 4.16% | 4.25% | $1,000 |
| 11-Month | 3.92% | 4.00% | $1,000 |
| 12-Month | 1.24% | 1.25% | $1,000 |
| 15-Month | 2.96% | 3.00% | $1,000 |
| 18-Month | 2.62% | 2.65% | $1,000 |
| 24-Month | 2.71% | 2.75% | $1,000 |
| 36-Month | 3.44% | 3.50% | $1,000 |
| 48-Month | 3.59% | 3.65% | $1,000 |
| 60-Month | 3.92% | 4.00% | $1,000 |
| Term | Rate | APY* | Minimum to Open |
|---|---|---|---|
| 6-Month | 4.21% | 4.30% | $1,000 |
| 11-Month | 3.92% | 4.00% | $1,000 |
| 12-Month | 1.24% | 1.25% | $1,000 |
| 15-Month | 2.96% | 3.00% | $1,000 |
| 18-Month | 2.62% | 2.65% | $1,000 |
| 24-Month | 2.71% | 2.75% | $1,000 |
| 36-Month | 3.44% | 3.50% | $1,000 |
| 48-Month | 3.59% | 3.65% | $1,000 |
| 60-Month | 3.92% | 4.00% | $1,000 |
| Term | Rate | APY* | Minimum to Open |
|---|---|---|---|
| 6-Month | 4.31% | 4.40% | $1,000 |
| 11-Month | 3.92% | 4.00% | $1,000 |
| 12-Month | 1.24% | 1.25% | $1,000 |
| 15-Month | 2.96% | 3.00% | $1,000 |
| 18-Month | 2.62% | 2.65% | $1,000 |
| 24-Month | 2.71% | 2.75% | $1,000 |
| 36-Month | 3.44% | 3.50% | $1,000 |
| 48-Month | 3.59% | 3.65% | $1,000 |
| 60-Month | 3.92% | 4.00% | $1,000 |
* Annual Percentage Yield as of 02/27/2025. Limit of $2,000,000 maximum deposit per CD or IRA product.
Republic Bank offers two great IRA options for your savings needs:
TRADITIONAL IRA
- New contributions can be made by anyone under the age of 70 ½ who has earned income and filed a tax return.
- Interest grows in the account tax-deferred.
- Distributions can be taken any time after age 59 ½ without IRS penalty.
- Only $1,000 needed to open a new IRA; or move your retirement funds from an IRA at another bank or your qualified retirement savings plan (if eligible).
ROTH IRA
- New contributions can be made by anyone, without age restriction, who has earned income and filed a tax return.
- Interest grows in the account tax-free if you maintain a Roth IRA at least 5 years.
- Distributions can be taken any time after age 59 ½ without IRS penalty or tax.
- Only $1,000 needed to open or move your retirement funds from an IRA at another bank or your qualified retirement savings plan (if eligible).
** Consult a tax advisor for more details.