Our Individual Retirement Accounts (IRA), will give you the serenity of knowing you can count on a solid future you've always dreamed of. Here's all you need to know about our CD IRA:
What do you want?
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Return with a short or medium fixed term
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FDIC insured
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Security
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Assistance acquiring my first house
How does it work?
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Minimum opening balance of $250
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Conservative investment strategy, on a short or medium term
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1, 2, 3 and 5-year terms
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You will get a quarterly account statement
Benefits
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Principal and interest are FDIC insured
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Available options: deductibles, Non-Deductibles (ROTH) and Academic
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Interest rate is calculated quarterly
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Access your account balance through Oriental Online Banking
How to apply?
For information and/or to open your IRA account today:
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Fill out this form and one of our representatives will call you in the next 48 hours
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Call or visit any of our branches throughout the Island; or
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Call the Customer Service Department at 787-620-0000
Disclosures
For retail accountholder only. Early withdrawal penalties consist of 365 days of interest on the principal in the account. Also, a 10% tax penalty if withdrawal does not comply with the conditions permitted by the Puerto Rico Treasury Department. Distributions by check will be charged $14.99. Transfers to another institution will be charged $54.99 (does not apply to Educational IRA CD). Request the Informative Statement and the IRA and Educational Contribution Accounts promotions and read them carefully before investing. Request detailed information to determine the IRA that most fits your needs as we offer other types of IRAs. Products offered by Oriental Bank and Trust, Member FDIC. OCIF B-29