Retirement : Personal : About American Bank

We have two easy ways to plan for income for your retirement years. Depending on your financial situation, you may either get a tax deduction, or a deferral of taxes on the interest earned, each year you contribute to your retirement account. Ask a Personal Banker for more details.

RETIREMENT ACCOUNTS
Individual Retirement Account Savings
Our flexible IRA Savings allows additional deposits of only $100, and features tiered rates and quarterly statements with interest compounded every quarter.

Individual Retirement Account CDs
These fixed-rate, auto-renewing one-year and two-year IRA Certificates of Deposit have tiered rates based on the opening balance. The minimum opening deposit is $10,000.

Personal Banking Plans	RETIREMENT
	Flexible	Fixed-Rate
	IRA Savings	IRA Certificates of Deposit
Account Profile	A simple way to save for retirement with tax-deferred investments without a maturity date	Earn a competitive rate of interest by investing your IRA funds in a one-year or two-year Certificate of Deposit
Special Features	Contributions can be made in $100 increments throughout the year Quarterly statement Withdrawals are subject to federal (ERISA) regulations. Contact us for details	Additional deposits can be made at maturity, so these are ideal IRA accounts for once-a-year contributors Auto-renewable
To Waive Monthly Maintenance Fee	None	None
Monthly Maintenance Fee	None	None
Transaction Charges	None³	Early withdrawal penalties apply.
Interest	Rate is tiered based on the account’s daily balance. It is a variable rate and interest is paid quarterly. ^1,2	Rate is tiered based on the opening balance. It is a fixed rate and is paid at maturity. Interest begins to accrue from the date of deposit. ²
Minimum Opening Deposit	$500	$10,000

1 Interest begins to accrue on the business day the bank receives credit for the deposit of noncash items such as checks.
2 We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
3 Unlimited number of lobby withdrawals (subject to current fee schedule). However,
federal regulations limit telephone, Bank OnLine, third party or pre-authorized transfers to six per
month, no more than three of which may be checks, drafts and/or point-of-sale
transactions.

For more information about our accounts, please call
Customer Service DirectLine at 361-992-9911 or 1-800-257-8316.
To open an account please visit any American Bank office.