Individual Retirement Account (IRA)

We offer Traditional and Roth IRA CD accounts.

Please visit a branch to open an IRA CD account.

 Term

Required Minimum
Balance to Open

 Interest
Rate

 APY*

 1 Year

 $1,000.00

2.00% 

2.02% 

 2 Years

 $1,000.00

2.25% 

2.27% 

 3 Years

 $1,000.00

2.50% 

2.52% 

 4 Years

 $1,000.00

2.60% 

2.63% 

 5 Years

 $1,000.00

2.75% 

2.78% 

*APY refers to Annual Percentage Yield is only an approximate value. APY mentioned is for quarterly compounding and payment at maturity. Any fee may reduce the earning. SBIC uses the daily balance method to calculate the interest on your account & the interest is compounded quarterly. Penalty may be imposed for early withdrawal. Interest rates and annual percentage yields are current as of 01/23/2018. Bank reserves the right to change interest rates without notice. 

For current rate information please call at 1-877-707-1995.

 

 

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