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Individual Retirement Account

Start saving today for retirement with a Traditional or Roth IRA at Junction National Bank!

IRA 12 Month

Minimum Balance to Open - The minimum balance required to open this account is $1,000.00.

Deposit Limitations - You may only make deposits into your account two times during the term in person, by phone or mail, or unlimited deposits by JNB automatic transfer. There is no minimum amount you may deposit; not to exceed the maximum allowed by law.

Effect on Maturity - The maturity date for this account will remain the same after additional deposits.

Time Requirements - This account matures 12 months after account opening.

Crediting Frequency - Interest will be credited into this account monthly.

Withdrawal Limitations - You may not make withdrawals of principal from your account before maturity, except required distributions. You can only withdraw interest credited in the term before maturity of that term, subject to penalty. You cannot withdrawal interest from your account without penalty.

Early Withdrawal Penalties (a penalty may be imposed for withdrawals before maturity) - The penalty will equal 182 days interest on the amount withdrawn subject to penalty. In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires the waiver of the early withdrawal penalty. See your plan disclosure if this account is part of an IRA, Keogh or another tax-qualified plan.

Automatically Renewable Account - Your account will automatically renew at maturity. Each renewal term will be the same as the original term, beginning on the maturity date. Unless we tell you otherwise in writing, the interest rate will be the same we offer on new certificate of deposit accounts on the maturity date which has the same term, minimum balance (if any) and other features as the renewed certificate of deposit account. You will have a grace period of ten calendar day(s) after maturity to withdraw the funds without being charged an early withdrawal penalty. You may prevent renewal if you withdraw the funds in the account at maturity (or within the grace period if any) or we receive written notice from you before maturity of your intention not to renew.

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