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Individual Retirement Accounts (IRAs)

Every Adventure Starts with Saving

In addition to this attractive rate, Spencer’s NJ IRA accounts allow for one annual penalty-free rate and term change for customers over 59 1/2 years of age.

An Individual Retirement Account (IRA) can be an effective retirement tool. An IRA from Spencer is exclusively designed to provide you with tax advantages while you save for retirement. There are two types available – Traditional and Roth. Opening an IRA now and contributing to it regularly can create a secure retirement scenario for your future.

Both of our IRA options feature:

  • Competitive Annual Percentage Yields
  • Hassle-free rollovers and transfers
  • Minimum to open as low as $500
  • Variety of terms available to meet your needs
  • FDIC insured up to $250,000 per depositor

 

Apply Now

Traditional IRA

A Traditional IRA allows you to set aside money for retirement while earning interest and offering tax advantages. Amounts in IRA, including earnings, generally are not taxed until distributed.

Roth IRA

A Roth IRA is also a great vehicle for retirement savings that offers interest on contributions and tax advantages. This IRA type offers tax-exempt withdrawals from the plan during retirement.

Traditional vs. Roth

If you are unsure which NJ IRA option is best for you, compare the advantages of each IRA type by clicking on this helpful chart or speak to your tax advisor.

Open Your Account Today

Apply online, visit your local branch, or call us at 1-800-363-8115 today!

 

*$500 minimum balance is necessary to obtain this annual percentage yield on 30-month IRA. This annual percentage yield is valid on the 30-month IRA ONLY, maximum deposit $250,000. Each IRA depositor is insured for up to $250,000 by the FDIC. Interest is compounded daily and credited monthly. APY offered as of date of publication. Rates are subject to change without notice. A penalty may be imposed for premature withdrawal and the fee may reduce earnings. APY offered assumes interest remains on deposit until maturity. Please consult your tax advisor for tax-deductible status. This promotional rate cannot be combined with any other offer. One rate change is allowed per year if you are over 59 1/2 years of age without penalty.