OIB Individual Retirement Accounts (IRA)
If you wait until your retirement to plan your finances, it might be too late. To be sure you can retire, start preparing now. Get immediate benefit with peace of mind knowing your future will be financially secure. Ask your OIB personal banker how an IRA can work for you.
- Minimum deposit required
- May allow deferral of taxes on income until withdrawn*
- Wide range of options and terms
- Interest compounds daily**
- Interest is paid monthly, annually or at maturity
- Collect interest by mailed check, deposited to an OIB account, or added back to CD at renewal
- Penalty for early withdrawal***
*Consult your tax advisor.
**Interest rates are subject to change.
***There are some exceptions to make early, penalty-free withdrawals from your IRA, such as medical expenses uncovered by insurance, purchasing a first home, higher education expenses, and more.