A brief description of various IRA products:
Traditional IRA:
An IRA may offer you a tax advantage to set aside money for retirement. Depending on the circumstance, you may be able to deduct part or all of the IRA contribution on your income tax.
Roth IRA:
The Roth IRA is a non-deductible account that features tax-free withdrawals for certain distribution reasons after a five-year holding period.
All First Northern Bank & Trust IRAs are invested in First Northern Bank & Trust CDs.
The APY is accurate as of February 4, 2021.
See Also: Mortgage Rates | Consumer Loan Rates | Deposit Rates
Account Type | Annual Percentage Yield (APY) | Interest Rate | Minimum Deposit to Open Account | Minimum Balance* to Obtain APY |
---|---|---|---|---|
91 Days CD*** | 0.05% | 0.05% | $1,000.00 | $1,000.00 |
182 Days CD*** | 0.25% | 0.25% | $1,000.00 | $1,000.00 |
1 Year CD*** | 0.30% | 0.30% | $1,000.00 | $1,000.00 |
2 Year CD*** | 0.40% | 0.40% | $1,000.00 | $1,000.00 |
2½ Year CD*** | 0.40% | 0.40% | $1,000.00 | $1,000.00 |
3 Year CD*** | 0.45% | 0.45% | $1,000.00 | $1,000.00 |
3 Year Adjustable*** |
0.20% |
0.20% | $1,000.00 | $1,000.00 |
4 Year CD*** | 0.50% | 0.50% | $1,000.00 | $1,000.00 |
5 Year CD*** | 0.55% | 0.55% | $1,000.00 | $1,000.00 |
5 Year Kid's CD*** | 0.55% | 0.55% | $1,000.00 | $1,000.00 |
1½ Year Variable IRA CD**,***** | 0.35% | 0.35% | $250.00 | $250.00 |
5 Year Royal CD**** | 0.55% | 0.55% | $1,000.00 | $1,000.00 |
* Daily Balance (The amount of principal in the account each day)
** The rate may change after the account is opened.
*** A penalty will or may be imposed for early withdrawal of funds.
**** You must have a First Northern Royal or Royal Blue Checking account for this CD.
***** Variable interest rate changes at each 6 month anniversary date. The new rate will be the advertised 1½ year rate at that time.
Fees could reduce the earnings on the account.
Initial deposit account disclosures are available upon request. Please contact us at (610) 826-2239 for copies or more information.
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