Retirement Accounts with Quaint Oak Bank
Quaint Oak Bank customers experience the convenience and confidence of establishing a retirement account with a trusted, seasoned financial institution. We offer a variety of retirement accounts to help you prepare for the future.
Establishing a Secure IRA Account
Individual Retirement Accounts, also known as IRA accounts, deliver an account option that allows you to save for retirement with tax-deferred contributions. With the purpose of providing for your financial security, IRAs offer any person with taxable income the opportunity to create a secure retirement plan. Quaint Oak’s retirement account options include either a traditional IRA savings account, a Military Advantage account, or an IRA certificate of deposit.
Your IRA Savings Account Options
With a Quaint Oak Bank IRA savings account, you can choose to direct deposit a portion of your paycheck into your account. Any individual with earned income including wages, salaries, bonuses, tips, commissions, and self-employed earnings, can open a Quaint Oak Bank IRA savings account. We offer both traditional IRA and Roth IRA accounts. The primary differentiator is related to the way each account type is taxed, and depending on your personal preferences, you can select which works best for you.
Account Type | Interest Rate | Annual Percentage Yield |
---|---|---|
IRA Savings | 1.95% | 2.00% |
In addition to our standard IRA account options, we offer our Military Advantage IRA savings account to service people and veterans. Our goal is to offer a military bank account with benefits you can rely on from a company you can trust.
Account Type | Interest Rate | Annual Percentage Yield |
---|---|---|
Military Advantage IRA Savings | 2.00% | 2.05% |
IRA CD – Certificate of Deposit
Quaint Oak Bank’s IRA CDs offer a higher rate of return on terms ranging from 6 months to 5 years. Similar in structure to a traditional CD, an IRA CD is for investing your IRA funds into CDs, as opposed to stocks or bonds. Ideal for an investor seeking a fixed-rate investment, IRA CDs are focused on sustainability.
Account Type | Interest Rate | Annual Percentage Yield |
---|---|---|
6 Months | 4.34% | 4.50% |
12 Months | 4.81% | 5.00% |
18 Months | 4.58% | 4.75% |
2 Years | 4.11% | 4.25% |
3 Years | 3.87% | 4.00% |
4 Years | 3.87% | 4.00% |
5 Years | 3.87% | 4.00% |
Quaint Oak Bank Retirement Accounts
Planning for retirement doesn’t have to be difficult! Our team is here to help you select the best option to safeguard your finances for the future. Contact us for more information about beginning your retirement account with Quaint Oak.
All Rates are Effective 10/05/2024