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.

retired couple with ira accounts embracing on couch
Elderly couple in kitchen slicing vegetables on cutting board

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 TypeInterest RateAnnual Percentage Yield
IRA Savings1.95%2.00%
Minimum opening deposit is $25.00. Interest is paid and annual percentage yield is earned on entire balance in account. Rates are variable and subject to change. Traditional or Roth Account. Please consult with your tax adviser.

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 TypeInterest RateAnnual Percentage Yield
Military Advantage IRA Savings2.00%2.05%
Minimum opening deposit is $25.00. Interest is paid and annual percentage yield is earned on entire balance in account. Rates are variable and subject to change. Traditional or Roth Account. Please consult with your tax adviser. Not to be combined with any other package or programs. Surviving spouses qualify with marriage license. Military ID or Form DD214 required.

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 TypeInterest RateAnnual Percentage Yield
6 Months4.81%5.00%
12 Months4.81%5.00%
18 Months4.34%4.50%
2 Years3.87%4.00%
3 Years3.87%4.00%
4 Years3.87%4.00%
5 Years3.87%4.00%
Minimum deposit for certificates of deposit is $500.00. Minimum daily balance of $500.00 is required to earn the APY (Annual Percentage Yield). Certificate of deposit accounts carry a substantial penalty for early withdrawal. Traditional or Roth Account.

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 07/19/2024