Individual Retirement Account (IRA)
Colony Bank IRAs provide one of the safest ways to save for retirement, since they are FDIC insured and offer steady returns.
- IRAs also provide tax advantages for your long-term retirement savings.
- Start contributing now and let your money grow for your benefit.
- Colony Individual Retirement Term Account is a fixed market rate IRA
- $500 minimum opening deposit
- Variety of terms available
- Interest compounds monthly
- Interest can be paid monthly, quarterly, semi-annually, annually
- Includes Traditional, Roth and Coverdell Education Savings Accounts (ESA), Savings Incentive Match Plans for Employees (SIMPLE), and Simplified Employee Pension (SEP)
- Penalty for early withdrawal, except withdrawals made in accordance with IRS distribution