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Individual Retirement Account (IRA)
Ensure your golden years are just that: golden. With a variety of plans to choose from, a Monroe Bank & Trust Individual Retirement Account (IRA) will help make sure your retirement dreams come true.
Features and Benefits
- MBT offers a variety of IRA options, including Simple IRAs, Traditional, Roth, Simplified Employee Pension IRAs (SEP), and Educational IRAs.
- High yield, tax-deferred earnings are perfect for saving for your retirement.
- Enjoy potential tax advantages* for as long as your money stays in your IRA.
- Competitive rate of interest.
- Your MBTeam banker helps you manage investments and assist you with all the legal requirements.
- MBT can help assist you, when you are ready to "rollover" IRA funds, with knowledgeable and personal service.
- No minimum deposit to open.
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Current Rates
| IRA |
| Type |
Rate |
APY |
Interest Payments Added to IRA |
| 18 Month Fixed |
1.98% |
2.00% |
Monthly |
| 18 Month Variable |
1.49% |
1.50% |
Monthly |
| 36 Month Fixed |
2.47% |
2.50% |
Monthly |
| 36 Month Variable |
1.98% |
2.00% |
Monthly |
| 48 Month Fixed |
2.71% |
2.75% |
Monthly |
| 60 Month Fixed |
2.96% |
3.00% |
Monthly |
| 30 Month Roth Fixed |
2.23% |
2.25% |
Monthly |
| 30 Month Roth Variable |
1.73% |
1.75% |
Monthly |
| 48 Month Roth Fixed |
2.71% |
2.75% |
Monthly |
| 60 Month Roth Fixed |
2.96% |
3.00% |
Monthly |
| 18 Month Education Fixed |
1.98% |
2.00% |
Monthly |
| 18 Month Education Variable |
1.49% |
1.50% |
Monthly |
| 36 Month Education Fixed |
2.47% |
2.50% |
Monthly |
| 36 Month Educational Variable |
1.98% |
2.00% |
Monthly |
| 48 Month Education Fixed |
2.71% |
2.75% |
Monthly |
Rates displayed above may change at any time and without advance notice. A penalty will be imposed for early withdrawal. It is the reader’s responsibility to verify rates with an MBT branch. All products and services are subject to Bank approval. There may be additional IRS penalties for early withdrawal from an IRA account. Consult your tax advisor. |
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Plan Tomorrow’s Dreams Today
No matter where you are in life, it’s never too early to dream about your retirement. It’s also never too early to start saving. Your MBTeam banker can help make your retirement goals a reality with a variety of MBT IRAs.
Along with Social Security and 401(k)s, IRAs should be a part of your retirement plan. MBT IRAs offer high yield, tax-deferred earnings for your retirement and are available with fixed or variable rate CD accounts, with interest compounded daily and credited to the certificate account monthly. Plus, with IRAs, you may be eligible for other tax savings.
Whatever your earning power, you can afford an MBT IRA. In fact, with your retirement dreams, you can’t afford not to have one!
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*Please consult your tax advisor for details
Contribution Limits
Tax Year Contribution Limit Age 50 & Over Limit
2005 $4,000 $4,500
2006-2007 $4,000 $5,000
2008 $5,000 $6,000
2009 & after $5,000 & COLA* $6,000 & COLA*
*COLA = Cost of living adjustment |
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