Community Banking that keeps your interests in mind

Scott Smith & John Kokola - Bodo's Bagels

Personal IRA

From Traditional to Roth and Coverdell IRAs, VNB can help you sort through the options for retirement and education planning. We make it easy to start early, and you can start small, too, with as little as $100.

Account Learn More Opening Deposit Terms Tiered Interest Rate Renewal
Fixed Term Tiered More $500.00 1 to 5 Years Yes Automatic

FIXED TERM TIERED IRA

  • Traditional, Roth, and Coverdell (Education) 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
  • Tiered interest rate structure: 
    $500 - $49,000
    $50,000 - $99,999
    $100,000 and greater
  • Interest paid quarterly
  • Calendar quarter statements
  • Subject to IRA rules and regulations
Tiered 18 Month More $500.00 18 Months Yes Automatic

TIERED 18 MONTH IRA

  • Traditional, Roth, and Coverdell (Education) 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
  • Tiered interest rate structure: 
    $500 - $9,999
    $10,000 and greater
  • Interest paid quarterly
  • Calendar quarter statements
  • Subject to IRA rules and regulations
Phoenix More $1,000.00 90 Days Yes Automatic

PHOENIX IRA

  • Traditional, Roth, and Coverdell (Education) 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 or longer      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

  • Traditional, Roth and Coverdell (Education) IRAs are available
  • Minimum opening deposit of $100
  • Deposits are permitted at any time
  • Tiered interest rate structure:
    $1 - $4,999
    $5,000 - $9,999
    $10,000 - $24,999
    $25,000 - $99,999
    $100,000 and greater
  • Interest paid monthly
  • Monthly statements
  • Subject to IRA rules and regulations