Achieve your business goals

Michael Aschenbrenner - BEECH Land Management

Business IRA

VNB’s business SEP and SIMPLE IRAs are safe and offer you a variety of account options. Best of all, your IRAs will be grown with the same investment principles of safety and discipline we’ve exercised since opening our doors. That’s good news for you and your employees for years to come.

Account Learn More Opening Deposit Terms Tiered Interest Rate Renewal
Fixed Term More $500.00 1 to 5 Years No Automatic

FIXED-TERM IRA

  • SEP and SIMPLE IRAs are available
  • Minimum opening deposit of $500
  • CD terms of 1 to 5 years
  • 10 day grace period after maturity for withdrawals
  • Penalty for withdrawal prior to maturity, forfeiture of interest regardless if earned, as follows: 6 months' forfeiture for CD with terms greater than 1 year
  • Automatically renews
  • Interest paid quarterly
  • Calendar quarter statements
  • Subject to IRA rules and regulations
18 Month More $500.00 18 Months No Automatic

18 MONTH IRA

  • SEP and SIMPLE IRAs are available
  • Minimum opening deposit of $500
  • 10 day grace period after maturity for withdrawals
  • Penalty for withdrawal prior to maturity, forfeiture of interest regardless if earned
  • Automatically renews
  • Interest paid quarterly
  • Calendar quarter statements
  • Subject to IRA rules and regulations
Phoenix More $1,000.00 90 Days Yes Automatic

PHOENIX IRA

  • SEP and SIMPLE IRAs are available
  • Minimum opening deposit of $1,000
  • Deposits are permitted at any time
  • Matures every 90 days
  • 10 day grace period after maturity for withdrawals
  • Penalty for withdrawal prior to maturity, 90 days forfeiture of interest regardless if earned
  • Automatically renews
  • Tiered interest rate structured by age of account:
    1 - 12 months                      1 year CD rate
    13 - 24 months                    2 year CD rate
    25 - 36 months                    3 year CD rate
    37 - 48 months                    4 year CD rate
    49 months and greater      5 year CD rate
  • Interest paid quarterly
  • Calendar quarter statements
  • Subject to IRA rules and regulations
Money Market More $100.00 Not applicable Yes Not applicable

MONEY MARKET IRA

  • SEP and SIMPLE IRAs are available
  • Minimum opening deposit of $100
  • Deposits are permitted at any time
  • Tiered interest rates
  • Interest paid monthly
  • Monthly statements
  • Subject to IRA rules and regulations