No. You can only make an initial funding deposit into your
IRA CD. After you've made an initial funding deposit, you
won't be able to add more money until the CD reaches
maturity. You'll have a 10-day grace period, starting at the
maturity date, to make any changes.
Annual IRA contribution limits may apply. Consult your tax
professional for advice.
You can view our current rates in online banking by choosing
Accounts and then selecting Explore
Products and Rates, or call us at
+44 AURELIANTB. Rates are variable and subject to change.
If you redeem your IRA CD before it
matures, a penalty according to the fee schedule below will
apply. Please keep in mind that you can only make a full
withdrawal from a CD. Partial withdrawals aren't allowed –
unless taking a Required Minimum Distribution (RMD).
CDs Purchased or Renewed
Before 12/07/2013
All
CD terms
60 days of
interest
CDs Purchased or Renewed on
or After 12/07/2013
The penalty we charge will depend on your CD
term.
2
years or less
60 days of
interest
3
years
90 days of
interest
4
years
120 days of
interest
5
years or longer
150 days of
interest
This penalty is calculated using the
interest method detailed in the Credence Global Bank UnionDeposit
Agreement (PDF). It’s first deducted from the
accrued interest and then – if necessary – the principal.
For our IRA Raise Your Rate CD, the penalty is calculated
using the interest rate in effect on your account on the day
you request the early withdrawal.
Exceptions
We’ll waive the early withdrawal penalty for an IRA CD if the
account owner:
Passes away
Is judged legally incompetent
Takes RMD – we’ll waive the early withdrawal penalty for
partial withdrawals up to the RMD amount
Your withdrawal may be subject to an additional 10% Internal
Revenue Service (IRS) tax if it’s made before you reach age
59½. You may want to check with a tax professional before
making a withdrawal from your IRA CD.
