CD + IRA = Stride Bank retirement planning
A CD individual retirement account with Stride Bank is one of the safest ways to save for retirement because, like a certificate of deposit, it is FDIC insured and offers steady returns. We offer both Traditional CD Individual Retirement Account (IRA) and a Roth CD Individual Retirement Account (IRA).
In both cases, the interest-bearing retirement account is for individuals under the age of 72 who want to build a tax-deferred fund to supplement Social Security. Please consult with a qualified tax professional for additional information.
Traditional IRA features
- Minimum deposit to open: $1,000
- Can add funds at maturity
- Competitive CD rates
- Contributions are often tax-deductible
- Earnings grow tax-deferred until withdrawn
- Distributions (withdrawals) are generally taxable, but penalty-free if withdrawn under one of the following circumstances:
- Attaining the age 59½
- Incurring a disability
- Payment for certain health insurance, medical expenses and higher education expenses
- Funds can be rolled over or transferred to other accounts, such as a 401(k) plan
- FDIC insured up to $250,000
Roth IRA features
- Minimum deposit to open: $1,000
- Can add funds at maturity
- Competitive CD rates
- Funds can be rolled over or transferred to other accounts, such as a 401(k) plan
- FDIC insured up to $250,000
Please stop by one of our many convenient branches to discuss options with our friendly and experienced Personal Bankers. You may also call our Customer Convenience Center at 580-233-3535 to speak with a knowledgeable Customer Service Representative.