Retirement
Investment options that allow you to plan for your future without sacrificing your values.
Whatever stage you’re at in your investment planning, Forbright has a variety of Individual Retirement Account (IRA) options to help you achieve your retirement goals.
| IRA Certificate of Deposit (CD) † | IRA Savings Account † | |
|---|---|---|
| Terms | 12-60 Months | – |
| Earns Interest 1 |  | |
| Minimum Balance Required to Open & Maintain APY | $1,000 | $1,000 |
| Withdrawal Limitations | Early withdrawal penalties may apply | Early withdrawal penalties may apply |
| Bill Pay with Online Banking | | |
| E-Statements Available | | |
| Automatic Renewal 2 | | – |
† Additional restrictions apply. Individual retirement accounts are subject to limitations and/or penalties imposed by the Internal Revenue Service. Please see your tax advisor for additional information
1 Interest is calculated daily and credited monthly.
2 Ten (10) calendar day grace period. Each renewal term will be the same as the original term, beginning on the maturity date. The interest rate at the time of renewal will be the rate offered for a new IRA CD product.
Additional fees may apply. Please refer to the Fee Schedule for more information.
Individual Retirement Accounts (IRA) Rates
Accurate as of
| Interest Rate | APY* | Minimum Opening Deposit | Minimum Balance to Obtain APY | |
|---|---|---|---|---|
| 12-17 Month | 3.68% | 3.75% | $1,000 | $1,000 |
| 18-23 Month | 3.44% | 3.50% | $1,000 | $1,000 |
| 24-29 Month | 3.44% | 3.50% | $1,000 | $1,000 |
| 30-35 Month | 3.20% | 3.25% | $1,000 | $1,000 |
| 36-47 Month | 3.20% | 3.25% | $1,000 | $1,000 |
| 48-59 Month | 3.20% | 3.25% | $1,000 | $1,000 |
| 60 Month | 3.20% | 3.25% | $1,000 | $1,000 |
| IRA Savings Account | 0.30% | 0.30% | $1,000 | $1,000 |
*Annual Percentage Yield
Rates and APYs are subject to change at any time. Fees assessed to account may reduce the earnings. The disclosed rates on variable accounts (i.e. Checking, Savings, and Money Market) may change after account opening.
Start planning for tomorrow today.
Visit one of our local Forbright branches to open an account.
Retirement Financial Calculators
View more resources-
How Much Do I Need in Savings to Fund My Retirement?
![Photo of a senior couple, a black man and woman, smiling at each other and working in front of a laptop computer]()
Resources
How Much Do I Need in Savings to Fund My Retirement?
Learn MoreUse this calculator to find out how much money you’ll need in your savings account to make recurring withdrawals of a specified amount.
-
How Much Will My Roth IRA Be Worth at Retirement?
![Two hands use pens to point to spots of a page of financial information.]()
Resources
How Much Will My Roth IRA Be Worth at Retirement?
Learn MoreUse this calculator to compute the amount you can save in a Roth IRA. A Roth IRA allows you to pay taxes on your income now, but withdraw the funds tax-free in retirement.
-
How Much Will My Traditional IRA Be Worth at Retirement?
![Photo of senior couple, a white man and woman, walking on a beach with their arms around each other smiling towards each other]()
Resources
How Much Will My Traditional IRA Be Worth at Retirement?
Learn MoreCalculate how much you can save with a tax-deferred Traditional IRA. Contributions to your Traditional IRA are usually tax deductible now, but you pay taxes when you withdraw the funds in retirement.
Additional Products
Branch Checking and Money Market
A checking account that works for you, on your terms.
Branch Savings
You save for your future. We invest in a brighter future.