CDs & IRAs

Questions?

Certificates of Deposit

Our CDs are available in a variety of terms, all with affordable minimum balances. Whether you have short or long-term investment goals, we have a CD to help you achieve them.

Regular CD Features

  • $500 to open
  • Competitive rates
  • Terms from 3 to 60 months
  • Interest may be compounded daily and added back to the CD, paid by check or deposited to another Nantahala account
  • Automatic renewal option available
  • Penalty for early withdrawal

Individual Retirement Accounts (IRA)

Investing in your future with a secure retirement savings method. Contributions are made on a pre-tax basis, making personal tax planning a bit easier.

Features

  • $500 to open
  • Competitive rates
  • Terms from 3 to 60 months
  • Interest may be compounded daily and added back to the CD, paid by check or deposited to another Nantahala account
  • Automatic certificate renewal
  • Penalty for early withdrawal

IRA Account Comparison

Account

Traditional IRA

Roth IRA

Description

Investing in your future with a secure retirement savings method. Contributions are made on a pre-tax basis, making personal tax planning a bit easier.

A special retirement account where you pay taxes on money going into your account and then all future withdrawals are tax-free.

Eligibility Age

You must be under age 70½ to contribute to a traditional IRA

You can contribute to a Roth IRA at any age

Income

Requires earned income and contributions can be made regardless of your income

Requires earned income and there can be income restrictions for contributions.*

Tax Advantages

Funds may grow tax-deferred

Funds may grow tax-free

Contributions

May be Tax-Deductible*

Maximum Contributions apply, based on IRS annual determination.

 

Not Tax-Deductible

Maximum Contributions apply, based on IRS annual determination.

Distributions

Distributions are taxed per your income bracket at the time of distribution.

Early withdrawals: Unless an exception applies, withdrawals before age 59 ½ may be subject to a 10% penalty

 

Distributions can be tax-free and/or penalty-free if the account has been open for at least five years

Early withdrawals: Unless an exception applies, non-qualified withdrawals may be subject to taxation of earnings and a 10% additional tax

Our Individual Retirement (IRA) Accounts include ALL of the following services:

  • Online Banking / Mobile Banking
  • 24-hour Telephone Banking
  • Held in a single certificate of deposit or multiple certificates of deposit to meet both your retirement planning and investing goals
  • Nantahala Bank offers certificates of deposit with a range of terms from 3 months to 60 months
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