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Retirement CDs

Couple walking in a Winter Forest, Lumberton, New Jersey

Our retirement CDs are perfect for individuals who want a secure way to save for retirement.

Benefits include:

  • Longer terms and greater balances earn higher interest rates
  • Fixed interest rate guaranteed to maturity
  • Deposits FDIC insured up to the maximum established by the FDIC per depositor and ownership category 6
  • Maturities ranging from 182 days to 60 months
  • No monthly or annual service fees
  • Interest compounded and credited monthly
  • $25 minimum deposit to open CD with term of 18 months or less
  • $1,000 minimum deposit to open CD with term greater than 18 months
  • To earn interest, no minimum balance requirement with terms 18 months or less; $1,000 minimum balance requirement with terms greater than 18 months
  • Add to account balance at any time if CD term is 18 months or less
  • Automatically renewable

Roth IRAs

Roth IRAs allow greater flexibility in retirement planning for qualifying individuals and couples. Roth IRA account holders pay no tax on withdrawals as long as the assets have been in the account for at least five years, the account holder is at least 59 1/2 years of age, and if funds are used for certain qualifying events. You can also continue to make contributions to a Roth IRA after turning 70 1/2 years of age (traditional IRAs prohibit contributions after that time) and you don’t have to take withdrawals at this age.

Direct Rollover IRAs

Direct Rollover IRAs allow customers who have already accumulated funds in a retirement plan to move them into an individual plan within 60 days of receiving the money. American Federal funds Direct Rollover IRAs with CDs and does not charge a fee to establish the account. Talk to an American Federal Banker about the best option that fits your financial needs.

6 FDIC protection only applies to bank deposits in retirement accounts. Investments such as stocks, bonds, mutual funds and annuities sitting in retirement accounts are not covered by FDIC insurance.