Savings /
Certificates of
Deposit
Individual Retirement Accounts
(IRAs)
All Bank of Pocahontas Savings accounts, CDs, & IRAs offer you 24-hour Call First
& First
Online Internet Banking.
Savings You work hard for your
money - make your money work hard for you. Select the
FDIC insured account that works best for you.
BOP Statement Savings*
-
ATM Card
- Accessible through
First
Online Internet Banking and
Call First
- Unlimited ATM/Teller withdrawals
- Direct Deposit
- Six
transfers per month at no charge to other Bank of
Pocahontas accounts or to third parties
*No minimum balance requirement for minors
under age 18
Christmas Club
- No minimum balance requirement
- Competitive interest rate
- Direct Deposit
- One free withdrawal
- No monthly maintenance fee
Certificates of Deposit
- $1000
opening balance
- Make
additional deposits of $100 or more during the original
term of the certificate
- Earn
interest at the current rate at the time of deposit
- Original balance plus any deposits will mature at
the same time
- Available at the following terms: 91 days, 182 days, 1,
2, 3, and 5 years
- Penalty if withdrawn before maturity date
All
certificates of deposit are insured up to $100,000 by the
FDIC.
WIN-WIN Option - Allows
two rate increases on a 1 year CD as market rate
increases.
Individual Retirement Accounts
(IRAs)
Traditional IRA - A traditional IRA is an account that
allows you to defer taxes on the earnings on your
contributions until they are withdrawn. Also certain
contributions are tax deductible in the tax year for which
they are made.
- Penalty for early
withdrawal
- 18 month fixed rate IRA
- Minimum opening deposit:
$250.00
Roth IRA - The Roth IRA allows
only nondeductible contributions and features tax-free
withdrawals for certain distribution reasons after five
years. For persons who expect to be in a higher tax bracket
when you retire, a Roth IRA may be more beneficial than a
Traditional IRA.
- Your modified adjusted
gross income must meet certain guidelines to qualify for
a Roth IRA.
Coverdell Education Savings Account
(Formerly Known as Education IRAs)
This account is a nondeductible account that features
tax-free withdrawals for a child's education expenses.
Qualified higher education distributions are penalty free
and federal income tax free. Consult a tax advisor to
discuss your individual situation.
For more information, please call or visit one
of our
offices,
or
e-mail us.
Please consult your tax advisor before opening an IRA
account.
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