CERTIFICATE OF DEPOSIT (CD)
Builtwell Bank has a variety of Certificates of Deposit (Time Deposits), rates, and terms that can be customized for individual investment strategies. Give us a call at your local branch to get started!
- Several options to choose from
- $1,000 minimum opening deposit
Individual Retirement Account (IRA)
- Multiple terms to choose from
- Choose between a Traditional IRA or a Roth IRA
- $100 minimum opening deposit
Simplified Employee Pension (SEP)
- The SEP is a retirement plan for self employed persons, small businesses, churches, etc.
- Self-employed individuals can contribute more to a SEP than they can to a Traditional IRA.
Savings Incentive Match Plan for Employees (SIMPLE) IRA
The SIMPLE plan is similar to a 401(k) but is designed for small businesses, churches, etc.
- The employer must have no more than 100 employees in the prior year.
- This plan allows employees (including the employer) to make pre-tax contributions and receive matching employer contributions.
- After 2 years in the SIMPLE plan, a participant can roll the plan into a qualified plan and vice versa. Also, after 2 years an IRA can also be rolled into a SIMPLE.
Coverdell Education Savings Account (CESA)
- The CESA is designed to help save for your children’s education expenses.
- There is no minimum age or maximum age for a contributor. However, funds must be distributed by age 30.
- Maximum annual regular contribution is $ 2,000.
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