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Triple Option IRA
| For current rates, contact us or your local banking office. |
Provides access to your funds halfway through its term with three valuable options.
| Terms available | 24 months |
| Minimum opening deposit | $5,000 |
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Option period
24 month CD |
The first ten (10) calendar days after CD has been open for twelve (12) months |
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Options
You may exercise one or more of the following options during the option period. |
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| #1 | Increase the interest rate on the certificate to the current interest rate being offered on that account (12-Month Triple Option CD or 24-Month Triple Option CD) for the balance of the term. This option may only be exercised once during the option period. |
| #2 | Continue the certificate at the original interest rate and make an additional deposit of $100 or more. The amount of the deposit may not exceed the original face value or the renewal amount of the Certificate of Deposit. |
| #3 | Withdraw any or all of your funds without an interest penalty during the option period. A minimum balance of $5,000 is required if you choose to maintain this Certificate of Deposit after withdrawal. |
| Interest (credited & compounded ) | Quarterly |
| You may choose to have your interest payment transferred to another Associated account or issued by check if your CD account balance is $5,000 or more. | |
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Certificate renewal
Automatically renews upon maturity |
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Grace period
The account owner has ten (10) calendar days after maturity to withdraw the funds without penalty. Interest is not paid during the grace period unless the funds from this Certificate of Deposit are deposited into another Associated Bank Certificate of Deposit. |
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| Early withdrawal penalty (unless withdrawal falls under guidelines of Option #3) | 181 days simple interest |
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