Individual Retirement Accounts
We offer two different IRA products that help individuals save for their future. The Bank acts as custodian of the IRA Account. As custodian, the bank receives the funds and invests them only in National Bank of Montpelier Certificates of Deposits.
Traditional IRA plans allow individuals to make regular weekly, monthly, or annual contributions that are deductible to qualified participants. This plan reduces taxable earnings for the tax year of deposit.
Roth IRA plans allow qualifying individuals to make regular weekly, monthly, or annual contributions to the Roth IRA. These contributions are non tax deductible but there are tax free withdrawals for certain distributions.
Rates effective as of September5, 2008
| IRA TERM | Min Amount to Open | Min to Receive APY* | Int. Rate | APY* |
| 12 Month Certificate | $25.00 | $25.00 | 3.75% | 3.79% |
| 18 Month Certificate | $ 25.00 | $ 25.00 | 2.25% | 2.26% |
| 24 Month Certificate | $ 25.00 | $ 25.00 | 2.25% | 2.26% |
| 36 Month Certificate | $ 25.00 | $ 25.00 | 2.50% | 2.52% |
*APY= Annual Percentage Yield
APY assumes interest will remain on deposit for one full year. A penalty may be imposed for early withdrawal. All rates are subject to change without notice.
Contact us for more information.