A Traditional, Roth or SEP IRA at Commerce National Bank is flexible and safe. Choose from several methods of contribution, and you can roll over assets from another pension or retirement plan, while maintaining tax-deferred status on your funds in most cases. A Commerce National Bank IRA can provide additional tax benefits. Be sure to consult your tax professional before investing.
|Term||One to Four Years|
|Min. to Open||$1,000|
|Partial Withdrawls Allowed **||None|
|Early Withdrawal Penalty*||90 days for accounts opened 1 year - 18 months
180 days for accounts opened 2 years and longer
|Interest Calculation Method||Daily Balance Method|
|Renewals / Grace Period after Maturity to withdraw without Penalty||Automatic Renewal 10-Day Grace Period|
Contact a Personal Banker for additional information.
* Additional penalties may be applicable as required by the IRS.
** Partial withdrawals may be permitted without penalty for IRA owners aged 59½ and older.