IRA Certificates
 

Key Features

IRA Certificate Rates

TermDividend RateAPY
1-Year0.800%0.80%
2-Year0.900%0.90%
3-Year1.000%1.00%
4-Year1.250%1.26%
5-Year1.500%1.51%
7-Year1.500%1.51%

Available for Traditional IRA

*Please see 'Details and Disclosures' below for important account information. 

Benefits

  • Dividends are compounded daily and paid monthly for maximum returns
  • Contributions are tax deductable
  • Partial withdrawals from IRA certificate or qualified distributions without an early redemption penalty
  • Savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government:  

Keep in Mind: Early redemption penalties for non-qualified withdrawals. Minimum opening deposit is $1,000. Consult with a tax advisor.

Not yet a PenFed member? Join now to apply.

Details and Disclosures

Annual Percentage Yield (APY) is accurate as of April 01, 2014 - April 30, 2014 and is subject to change at any time. Fees may reduce earnings.

Rates are subject to change monthly and are fixed for the term of the certificate. Certificates dividends compound daily. The minimum balance to open a certificate is $1,000.

*Note that any IRA Certificates opened or renewed prior to September 1, 2007, can be redeemed before maturity without a penalty, if the Member is at least 59 1/2 years old. A penalty will be imposed for early redemption of an IRA Certificate that was opened or renewed after September 1, 2007, regardless of the member's age. This fee could reduce your earnings.

 

Early Redemption Penalties 


Penalties are imposed for early withdrawal of IRA certificates. You must provide your request in writing.

Certificates having a term of 1 year or greater up to and including 4 years

If redeemed within 180 days of the issue date or any renewal date, all dividends will be forfeited

If redeemed thereafter, but before the maturity date, dividends for the most recent 180 days will be forfeited.

Certificates with a term of 5 years or greater
(applies only to certificates issued or rolled over on 3/15/11 or later)

If redeemed within 365 days of the issue date or any renewal date, all dividends will be forfeited.

If redeemed thereafter, but before the maturity date, dividends for the most recent 365 days will be forfeited.