Fixed-term deposits, and what you should know before using any account for retirement money.
You agree an amount and a term, the money stays put, and it earns at the agreed rate until the term ends. Withdraw early and you normally give up some of the interest.
Rates depend on the amount and the term. Ask us and we will quote in writing before you commit.
An IRA is a specific tax-advantaged account type defined by the US tax code, with contribution limits, eligibility rules and reporting obligations that fall on the custodian.
We do not currently act as an IRA custodian. If you are looking to open or transfer an IRA, you need a qualified custodian, and we would rather tell you that than take the deposit.
We can hold money on a fixed term, and we will be straight with you about the rate and the penalties. What we cannot do is give it tax-advantaged status. Talk to a tax adviser about where retirement money should sit.
We are not licensed investment or tax advisers and nothing here is advice about your circumstances.