GPN Bank

IRAs

Six Month Traditional IRA


Minimum balance requirements:

  • You must deposit $1,000.00 to open the account.
  • You must maintain a minimum balance of $1,000.00 in your account every day to obtain the annual percentage yield.

Balance computation method:

  • We use the daily balance method to calculate interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

Transaction limitations:

  • After the account is opened, you may not make deposits into or withdrawals from the account until the maturity date.

Early withdrawal penalty:

  • If you withdraw any principal before the maturity date, a penalty equal to three months interest may be charged to your account.
  • Any withdrawal within six (6) days after the date of deposit must be charged a penalty equal to seven (7) days interest.

Renewal policy:

  • This account will be automatically renewed at maturity.  You have a grace period of ten (10) calendar days after the maturity date to withdraw the funds without being charged a penalty

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Twelve Month Traditional IRA


Minimum balance requirements:

  • You must deposit $1,000.00 to open the account.
  • You must maintain a minimum balance of $1,000.00 in your account every day to obtain the annual percentage yield.

Balance computation method:

  • We use the daily balance method to calculate interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

Transaction limitations:

  • After the account is opened, you may not make deposits into or withdrawals from the account until the maturity date.

Early withdrawal penalty:

  • If you withdraw any principal before the maturity date, a penalty equal to six months interest may be charged to your account.
  • Any withdrawal within six (6) days after the date of deposit must be charged a penalty equal to seven (7) days interest.

Renewal policy:

  • This account will be automatically renewed at maturity.  You have a grace period of ten (10) calendar days after the maturity date to withdraw the funds without being charged a penalty

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Twenty-Four Month Traditional IRA


Minimum balance requirements:

  • You must deposit $1,000.00 to open the account.
  • You must maintain a minimum balance of $1,000.00 in your account every day to obtain the annual percentage yield.

Balance computation method:

  • We use the daily balance method to calculate interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

Transaction limitations:

  • After the account is opened, you may not make deposits into or withdrawals from the account until the maturity date.

Early withdrawal penalty:

  • If you withdraw any principal before the maturity date, a penalty equal to twelve months interest may be charged to your account.
  • Any withdrawal within six (6) days after the date of deposit must be charged a penalty equal to seven (7) days interest.

Renewal policy:

  • This account will be automatically renewed at maturity.  You have a grace period of ten (10) calendar days after the maturity date to withdraw the funds without being charged a penalty

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Twenty-Four Month Roth IRA


Minimum balance requirements:

  • You must deposit $1,000.00 to open the account.
  • You must maintain a minimum balance of $1,000.00 in your account every day to obtain the annual percentage yield.

Balance computation method:

  • We use the daily balance method to calculate interest on your account.  This method applies a daily periodic rate to the principal in the account each day.

Transaction limitations:

  • After the account is opened, you may not make deposits into or withdrawals from the account until the maturity date.

Early withdrawal penalty:

  • If you withdraw any principal before the maturity date, a penalty equal to twelve months interest may be charged to your account.
  • Any withdrawal within six (6) days after the date of deposit must be charged a penalty equal to seven (7) days interest.

Renewal policy:

  • This account will be automatically renewed at maturity.  You have a grace period of ten (10) calendar days after the maturity date to withdraw the funds without being charged a penalty

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