CDs & IRAs

Time and money make a winning combination

As you build up your personal finances, it makes sense to look for every advantage. With Certificates of Deposit, you can lock in higher earnings by choosing savings periods lasting from three months to five years. With IRAs, you can stretch your retirement dollars with the help of tax benefits. At HAB Bank, our representatives can discuss more details and help you create a long-term saving strategy.

Certificates of Deposit

• With CDs, a little patience goes a long way. Certificates offer guaranteed returns, plus the flexibility to choose savings periods that align with your future financial needs.
• Choose CDs ranging from three months to five years
• CDs usually offer higher rates than traditional savings accounts
• In general, longer term CDs feature even higher rates
• Enjoy the predictability of guaranteed returns
• Get peace of mind from FDIC insurance
  
  

Individual Retirement Accounts

It's fine to dream about retirement, but even better to take action that will enable you to live a comfortable lifestyle. At HAB Bank, we offer both Traditional and Roth IRAs, which combine the earning power of our CDs with a range of tax advantages to help you build a sizable nest egg.

Traditional IRA

• Maximum annual contribution of $6,500 ($7,500 if over age 50)
• Potential tax deductions each year you make a contribution
• All annual interest and dividend income is tax-deferred
• Withdrawals may begin at age 59 1/2 and are taxed as part of your overall income
• Mandatory withdrawals are required for those 72 and over

Roth IRA

• Maximum annual contribution of $6,500 ($7,500 if over age 50)
• All annual interest and dividend income is tax-exempt
• Withdrawals may begin at age 59 1/2 and are tax-free
• There are no mandatory withdrawal requirements at any age

Retirement Plan Rollovers

• If you are retiring or changing jobs, HAB Bank can help roll over your retirement plan funds into an IRA.
• An IRA rollover can help consolidate your retirement funds and defer taxes.